Commodities
Treasury Yields Plummet as US Doubles Bond Buybacks
The U.S. Treasury's plan to double its long-term bond buybacks has sent yields lower, causing spot gold prices to surge by over $100 and driving a massive increase in gold-mining equities.
Starting September 9, the U.S. Department of the Treasury will double its monthly liquidity support buyback operations for long-term government debt to $4 billion or more.
The VanEck Gold Miners ETF recorded its largest single-day percentage gain in nearly four years as spot gold leaped over $100.