Gold and Silver Prices Soar on Treasury Buyback Boost

Gold and silver prices have surged in recent days, with gold rising over 2.4% to around $4,441 and silver climbing by 2.3% to near $64.85.

The main catalyst for this increase is the U.S. Treasury's decision to double the size of its long-end liquidity-support buybacks, which has pushed the Treasury yield curve lower and created a more supportive environment for precious metals.

Additionally, the weaker U.S. dollar has provided another boost to gold and silver prices, making them more attractive as safe-haven assets.