Treasury Buybacks Spark Gold and Bitcoin Surge

The US Treasury's decision to expand buybacks of longer-dated government bonds sent shockwaves through financial markets, causing gold and Bitcoin to surge together.

Gold jumped approximately 3%, while Bitcoin accelerated from above $65,000 toward the $69,000-$70,000 area after the announcement.

Eamonn Sheridan noted that a technical debt-management decision would not normally be expected to send gold up 3%, suggesting traders may have heard a wider message about dollar debasement and policymakers' willingness to intervene.