According to CoinMeta, the price of gold rose by $67 today to reach $4,434, breaking through yesterday's weekly high. Since August 5th, gold has gained nearly 10% in value, thanks to weak U.S. economic data and today's report that indicates the Federal Reserve is not in a hurry to raise interest rates. After the report was released, gold reached a intraday high of $4,440. The U.S.'s intervention in the Japanese yen market also boosted demand for gold, with market rumors suggesting that the Treasury Department might sell gold to cope with the weakening dollar. Nevertheless, if strategic reserves are drawn down, it could lead to rising oil prices, which in turn may force the sale of gold reserves to stabilize the currency or fund imports. Additionally, the possibility of a capital gains tax reduction proposed by the Trump administration this week, if implemented, would increase the deficit and highlight the government's disregard for debt.