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Gold up 15% in August as silver surges 19%, metals gain $5T
The rally was boosted by a reported doubling of the U.S. Treasury long-term bond buyback program to $4 billion per session, which helped drive short-covering in metals markets.
Gold prices are up 15% in August and silver has surged 19%, lifting the combined value of the two metals by nearly $5 trillion in market value this month, according to an analysis cited by Yahoo Finance.
The outlet links the late-August breakout to multiple macro and geopolitical factors, including monetary policy interventions, persistent global inflation, and escalating Middle East tensions that have once again supported demand for gold as a safe-haven asset.
Yahoo Finance also points to a catalyst from the U.S. Treasury, saying it unexpectedly doubled its long-term bond buyback program to $4 billion per session, which the report says triggered short-covering and speculative buying across precious metals markets.
For silver specifically, the article attributes the stronger performance to a reported physical supply deficit and ongoing industrial demand, including long-term consumption tied to AI data centers, electrical grid modernization, and advanced electronics. It also includes Truist chief investment officer Keith Lerner upgrading gold back to neutral, citing stabilized real yields, improved technical trends, and resilient central bank buying.
Latest closeGold $4,432.00 ▲1.6%|Silver $64.83 ▼0.1%