Hecla Mining and Coeur Mining Spike 13% as Treasury Buyback Plan Ignites Precious Metals Rally
The 10-year yield fell 5 basis points and the 30-year yield dropped 8 basis points after the Treasury said it would increase debt buybacks.
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10 Articles
Hecla Mining and Coeur Mining Spike 13% as Treasury Buyback Plan Ignites Precious Metals Rally
A Treasury Department move sent silver and gold miners surging double digits in a single session, but the precious metals equities have barely kept pace with their underlying metals all year. The real question is whether Wednesday's catalyst finally closes that gap or just adds another head fake to the list.
Gold and silver exchange-traded funds (ETFs) saw a big jump on Thursday. Silver ETFs rose up to 6 percent, while gold ETFs rose between 2 and 2.5 percent. ETFs linked to both precious metals saw a big buying from investors after the US 30-year Treasury bond yield softened. The US Treasury Department announced a doubling of the size of its buyback operations under liquidity support, which halted the ongoing rise in Treasury yields. The 30-year US…
Was yesterdays news and moves just noise or something with legs behind it?
Good morning, Revestors, Markets have been volatile over the past couple of sessions as Treasury buyback headlines created sharp moves across equities, bonds, yields, the dollar, and precious metals. The key thing to remember is that news-driven moves can create big emotional swings, but they do not always change the underlying trend. They often create...
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