Bessent's bid to soothe the bond market sparks a surge in gold

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US Treasury Secretary Bessent's expanded long-dated Treasury buyback plan (at least $2B additional per operation through Nov 4) was read as a signal to contain funding costs and stabilize the bond market. The announcement coincided with a sharp bid in precious metals: gold extended gains, while silver and platinum also surged. The move highlights strong cross-asset sensitivity to rates/term-premium expectations and hedging demand.
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NCCOGOLD2USD/USDT+0.83%
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⚠️ AI سے تیار کردہ تجزیاتی سمجھ خبروں کے مواد پر مبنی ہے اور صرف معلوماتی مقاصد کے لیے فراہم کی گئی ہے۔ یہ سرمایہ کاری کا مشورہ نہیں ہے اور نہ ہی BingX کے خیالات کی نمائندگی کرتی ہے۔ سرمایہ کاری میں رسک شامل ہے۔ براہ کرم ذمہ داری سے ٹریڈ کریں۔
U.S. Treasury Secretary Scott Bessent is pressing ahead with a long-dated Treasury buyback program, saying each operation will repurchase at least an additional $2 billion of long-term Treasuries through Nov. 4. Markets read the move as a signal the government is seeking to rein in financing costs and steady the bond market. After the announcement, gold extended its rally, jumping 2.4% on Friday and posting a cumulative gain of 5.9%. Silver and platinum also climbed sharply, up 8.6% and 9.3%, respectively.