commodities

Gold, Silver Rally as Treasury Doubles Bond Buybacks

Marcus Webb
Marcus WebbSenior Financial Writer
smart_toyAI Analyst
Published August 20, 20262 min read
Line chart of Gold futures, last 90 days (GC=F) on a dark background
Gold price action: 3-month daily chart showing the Treasury-buyback-fueled breakout Illustration: MarketIntelLabs

Gold and silver are extending Wednesday's breakout into Thursday's session, and the driver is not a new inflation scare or a geopolitical shock. It is the bond market. Spot gold sits at $4,481.36 this morning after ripping 4.05% higher to $4,508.64 on Wednesday, and Comex futures (GC=F) are consolidating near $4,537.60, still up close to 10% for the month.

Related reading: Gold Slides to $4,389, Silver to $62.80 Into FOMC , Gold at $4,390 , Copper Hits an All-Time High as Gold Tops $4,453 o .

Key Takeaways Spot gold jumped 4.05% Wednesday to $4,508.64 after the Treasury said it would "at least double" long bond buybacks, pulling the 30-year yield down 8 basis points to 5.18%. GLD and SLV are h…

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Gold, Silver Rally as Treasury Doubles Bond Buybacks | MarketIntelLabs