Rush to Gold, Bitcoin Overlooks More Hawkish Fed -- Market Talk

1249 ET - The Trump administration's efforts to cap bond yields is fueling the rally in gold and bitcoin, which capitalized on the situation, BankPro's CEO Paolo Broccardo says in a note. "The use of non-market methods by the authorities is fueling demand for alternative assets outside the traditional financial system." The Treasury Department's announcement that it will raise the amount of longer-term bond purchases, meanwhile, overshadowed the publication of the FOMC minutes, he adds. "Investors ignored the fact that the number of 'hawks' on the committee is growing, which could lead to higher interest rates." New York gold futures are up 2.1% at $4,667.60 an ounce. Bitcoin gains 6.5% and trades around $77,391. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

August 21, 2026 12:49 ET (16:49 GMT)