According to CoinMeta, the price of gold broke through $4,500 per ounce on Wednesday, continuing its strong rebound due to the decline in long-term U.S. Treasury yields and the weakening of the dollar. The spot gold price then fell back to around $4,488, up 3.6%, while the settlement price of U.S. gold futures rose 2.8% to $4,545.30. This breakthrough also allowed the gold price to exceed its closely watched 100-day moving average of $4,381. Analysts pointed out that the upward trend of gold has improved in the past few weeks, and the U.S. Treasury Department's announcement to double its purchases of long-term Treasurys has alleviated market pressure. The yield on 30-year Treasurys fell by nearly 10 basis points to around 5.19%.