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Gold jumps on report China may slow U.S. Treasury buys

Reuters  |  NEW YORK/LONDON 

By Renita D. Young and Jan HarveyNEW YORK/LONDON (Reuters) - Gold rose on Wednesday, hitting its highest in nearly four months as the dollar swooned after a report that Chinese officials had recommended slowing or halting purchases of U.S. Treasury securities.The dollar, already under pressure versus the Japanese yen after the Bank of Japan moved to trim its long-dated government bond purchases this week, was on track to post its biggest single-day drop against the yen in seven weeks. The greenback also lost ground against a basket of major currencies.Spot gold was up 0.5 percent at ...

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First Published: Thu, January 11 2018. 00:43 IST