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US Dollar Weakens Against The Loonie as Prices of Crude, Gold Continue to Rise

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The US dollar weakened against its Canadian counterpart Thursday afternoon as the prices of crude and gold continued to climb.

The greenback was down 0.14% to C$1.3788 on last look.

Comex gold December futures rose 0.6% to $4,573.60, the highest level since the end of May.

West Texas Intermediate September crude oil futures, the US benchmark, climbed 2.6% to $88.07 per barrel. October Brent oil futures, the international benchmark, climbed 2% to $93.50 a barrel.

US Treasury Secretary Scott Bessent said Thursday that his department's buyback of government debt could be higher than the $4 billion per issue that was announced on Wednesday, CNBC reported. Bessent, who was interviewed on CNBC, did not provide a figure. "The [yields] don't reflect the fundamentals," he said during the interview.

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