The US Treasury announced an increase in buybacks of longer-dated Treasury securities, doubling the maximum size from $2 billion to at least $4 billion per operation, from September 9 through November 4. Following this announcement, 30-year Treasury yields fell sharply while gold and bitcoin prices increased and the US dollar weakened. Markets interpret this buyback strategy as supportive for gold and bitcoin, viewing these assets as hedges against currency devaluation and economic uncertainty. Current pricing on prediction markets suggests a modest increase in the likelihood of gold reaching higher price levels by the end of December 2026, although probabilities remain relatively low.
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