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Why an announcement from the Treasury sparked a rally in gold and bitcoin this week
Cryptocurrencies and precious metals shot higher, while the U.S. dollar weakened, after the Treasury Department said it planned to double its bond buybacks.
AI Summary
Cryptocurrencies and precious metals rose sharply as the U.S. dollar weakened after the Treasury Department announced plans to double its bond buybacks. The market reaction linked the Treasury’s increased buyback program to a rally in gold and bitcoin.
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