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Treasury bond buybacks plan lifts gold and bitcoin amid a weaker dollar

The Treasury said it plans to double bond buybacks, driving higher prices across gold and cryptocurrencies as the U.S. dollar fell.

Reported · Written up by our desk · Precious Metals

MarketWatch reports that a Treasury Department announcement about bond buybacks helped spark a broad rally across gold and bitcoin this week.

According to MarketWatch, cryptocurrencies and precious metals rose sharply as the U.S. dollar weakened following the Treasury plan to double its bond buybacks.

MarketWatch said the move in buybacks was a key catalyst for both markets, with the dollar decline acting as a tailwind for gold and digital assets.

Latest closeGold $4,432.00 ▲1.6%|Bitcoin $77,041.76 ▼1.6%

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