Gold, Silver and Mining Shares Rally After Treasury Doubles Long-Dated Bond Buybacks

Gold, Silver and Mining Shares Rally After Treasury Doubles Long-Dated Bond Buybacks

Gold, silver and mining shares rose Wednesday after the U.S. Treasury said it would at least double purchases of long-dated government debt, a move that pushed down yields and the dollar. Spot gold traded around $4,484 an ounce as of 10:25 a.m. ET, up 3.46% from Tuesday’s close, while silver gained 3.33% to about $65.44 an ounce, according to market data. The dollar index declined 0.78%, the 10-year Treasury yield fell 1.27% and the 30-year yield declined 1.84%, according to trading data.

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