US Treasury set to double buybacks of government bonds

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The US Treasury announced it will double the size of its long-term government bond buybacks from 2 billion dollars to at least 4 billion dollars, causing government bond yields to ease after rising rapidly earlier. The positive news helped lift all three major US stock indices, and gold surged more than 3 percent to trade at 4,556 dollars per ounce. Meanwhile, Brent crude oil prices continued to rise 1.57 percent, breaking above 92 dollars per barrel at approximately 11:24 p.m. Thailand time.

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Gold surges over 3% as bond yields ease, boosting appeal.

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