Rising UK consumer confidence gives Andy Burnham ‘golden opportunity,’ survey says – business live

AI desk brief

Gold pulled back 0.6% to $4,493.49/oz after a 4% jump on Wednesday to a more-than-two-month high, but the broader macro backdrop remains supportive: the US dollar is near three-month lows and the 30-year Treasury yield has eased to 5.189% after spiking to 5.337% earlier in the week. Treasury Secretary Scott Bessent’s move to at least double debt repurchases helped calm the long-end selloff, while the US debt stock crossed $40tn for the first time.

The article also flags renewed geopolitical risk after Trump threatened fresh economic measures against Iran, while Brent crude held firm around $91.87/bbl. That mix of lower USD, elevated long-end yields, and geopolitical uncertainty is keeping safe-haven demand for gold alive even as price consolidates after a sharp two-day run.

Near term, the key questions are whether gold can hold above the post-breakout zone after Wednesday’s surge, and whether the drop in the dollar is enough to offset any further yield volatility. If long-dated Treasury yields stabilize and USD weakness persists, the market could extend toward fresh highs; conversely, a renewed bond-market rout could trigger profit-taking despite the supportive macro narrative.