Gold surges above $4,500, silver breaks $66 as Treasury buyback sinks yields - Kitco PM Report - KITCO
Gold surges above $4,500, silver breaks $66 as Treasury buyback sinks yields - Kitco PM Report - KITCO
Source: KITCO
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DW NOTE
The Treasury bought its own debt to suppress yields, which sent metal prices soaring — a near-perfect illustration of why central banks lose credibility during fiscal crises. When the government becomes both borrower and lender of last resort, the distinction between monetary policy and balance-sheet manipulation disappears entirely. Gold and silver aren't rallying because of fundamentals; they're rallying because investors are watching the Fed monetise deficits in real time and concluding that dollar-denominated promises have a shelf life.