According to CoinMeta, gold prices rebounded due to concerns about debt and a weakening U.S. dollar. On Friday, gold futures rose by 1.67% to $4,647.70, while spot gold increased by 1.55% to $4,588.08. Gold prices have risen by nearly 5% this week, with futures prices approaching three-month highs. Analyst Giovanni Staunovo stated that the increase in global debt levels and the continuous weakening of the U.S. dollar are the main factors driving up gold prices. He expects gold prices to rise to $5,400 per ounce in the next 12 months. On Wednesday, the U.S. Treasury Department announced that it would at least double the liquidity support for 10- to 30-year Treasury bond repurchases in order to stabilize the selling of long-term Treasuries. The announcement initially led to a decline in Treasury bond yields and a weakening of the U.S. dollar, which in turn drove up gold prices.