🟢 Commodities Focused ETF (IAU) is trading 3.8% up in pre-market after Treasury buybacks lowered yields

IAU is trading at $84.82 in pre-market, up 3.81% versus the previous close, following gold’s sharp August 19 rally as Treasury buybacks lowered long-term yields and the dollar weakened.

• The U.S. Treasury decided to at least double long-term bond buybacks, pushing the 30-year yield down roughly 10 basis points to 5.19%; the weaker dollar supported dollar-priced gold.
• Spot gold rose 3.6% to $4,487.91 per ounce, while ongoing U.S.-Iran tensions added safe-haven demand.