Gold Holds Near $4,500 as US Treasury Buyback Sends Yields Lower - Bloomberg.com
Gold Holds Near $4,500 as US Treasury Buyback Sends Yields Lower - Bloomberg.com
Source: Bloomberg.com
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DW NOTE
The Treasury is buying back its own bonds to suppress yields while gold sits near $4,500. That's not market clearing — that's the issuer intervening because real buyers have stepped back. When a sovereign has to bid for its own debt to keep borrowing costs down, the yield is no longer a price. It's a subsidy the government pays itself.