Gold hits highest in more than 2 months then slips
Gold earlier on Thursday hit its highest price in more than two months, but slipped back down later on Thursday as investors cashed in their profits.
The US Treasury's move to boost bond buybacks made the dollar weaker and pushed gold up before it dipped by 0.6%.
US $40 trillion debt boosts gold
With US debt topping $40 trillion, the debt and fiscal concerns are very bullish for gold. Analyst Edward Meir called this "very bullish for gold."
There's also fresh worry about inflation, several Fed officials were ready to raise interest rates, though traders think there's only a one-in-three chance of that happening next month.
Gold futures demand stays strong
It wasn't just gold making moves: silver nudged up slightly, while platinum and palladium both dropped a bit.
Even so, demand for gold futures stayed strong thanks to all the economic uncertainty and inflation fears hanging around.