Gold and Bitcoin Surge as U.S. Debt Fears Send Investors Running From the Dollar

Gold and Bitcoin surged as U.S. debt fears drove investors from the dollar. The Dollar Index hovered near 98.88, its lowest since mid-May. Treasury doubled long-end bond buybacks to $4 billion per operation, while federal debt passed $40 trillion and the deficit neared $1.8 trillion. Bitcoin benefited from the flight to alternative assets.