Gold hovered near its highest level in more than two months on Thursday after a surprise liquidity support announcement by the U.S. Treasury pushed yields and the dollar lower.FUNDAMENTALSSpot gold was little changed at $4,512.19 per ounce, as of 0031 GMT, after hitting its highest level since June 2 at $4,525.79 earlier ‌in the ⁠day. Prices ⁠jumped more than 4% on Wednesday.U.S. gold futures for December delivery rose ​0.6% to $4,569.80.Yields on long-dated U.S. Treasuries fell, with the increased demand following an ​announcement that the Treasury Department would double the size of liquidity support buyback operations for longer-dated notes and bonds. [US/]The U.S. dollar remained ​subdued, making greenback-priced metals less expensive for buyers ⁠holding other ‌currencies. [USD/]Total U.S. debt has topped $40 trillion for ​the first ​time, the Treasury Department said on Wednesday, drawing fresh ⁠warnings that a fiscal crisis is brewing as ballooning ​costs for social safety-net programmes and interest payments ​far outstrip revenues held back by tax cuts.Concern about inflation deepened at the Federal Reserve's meeting last month, with "several" policymakers ready to raise interest rates and "many" saying a hike in borrowing costs would be needed if inflation does not decline to the U.S. central bank's ‌2% target, the minutes of the session showed on Wednesday.Traders are pricing in a 67.3% chance that the ​Fed will ​keep rates unchanged ⁠and a 32.7% chance of a rate increase in September, according to the CME FedWatch Tool.Gold is considered a safe investment during geopolitical and ​economic turmoil, while higher interest rates reduce its appeal as it yields no interest.Among other metals, spot silver gained 0.2% to $67.06 per ounce. Platinum fell 0.4% to $1,816.78, while palladium rose 0.3% to $1,339.05. DATA/EVENTS (GMT) 0100 China Loan Prime Rate 1Y, 5Y Aug1230 US Initial Jobless Clm 15 Aug, w/e1230 US Philly Fed Business Indx Aug