The rise in gold and silver in this round is a common result of clear information driving the continuous entry of superimposed capital into the market. On Wednesday night, the US Treasury raised the size of a single repurchase of 1030-year long-term treasury bonds from 2 billion US dollars to 4 billion US dollars. Specifically, efforts were limited. The operator was the Treasury Department, not the Federal Reserve's QE, and no additional base currency was added. Furthermore, the volume of a single operation is low compared to the overall stock, and the tool positioning focuses on repairing the liquidity of the secondary market for old long-term bonds, mitigating the risk of a pulse-upward trend in remote yield, and making it difficult to reverse the large pattern of US bond supply. After the news was announced, the yield on 30Y US bonds fell rapidly, and the price of gold successfully broke through the previous phased high and reached 4,500 for a short time. The policy itself is not enough to independently drive the gold price trend, but the signal transmission and market interpretation are optimistic. On Thursday night, Bezent increased its “TACO” efforts, indicating that the maximum bond repurchase limit may exceed 4 billion US dollars. Gold and silver continued to rise rapidly. Silver broke through resistance at the weekly level and successfully reached the annual line. Gold also remained stable above 4,500 US dollars/ounce. Combined with the rapid inflow of funds from single-day ETFs yesterday, capital and sentiment towards precious metals have already given direction. If gold stabilizes at 4,500 US dollars/ounce in the short term, we will pay more attention to the 4600-4,700 range. After the technical breakdown, silver will look further around 71.5 US dollars/ounce, corresponding to the Shanghai Bank of China's 17300-17500 yuan/kg. Gold bulls following the trend are recommended to continue holding after breaking through $4,450 on Wednesday night.

The rise in gold and silver in this round is a common result of clear information driving the continuous entry of superimposed capital into the market. On Wednesday night, the US Treasury raised the size of a single repurchase of 1030-year long-term treasury bonds from 2 billion US dollars to 4 billion US dollars. Specifically, efforts were limited. The operator was the Treasury Department, not the Federal Reserve's QE, and no additional base currency was added. Furthermore, the volume of a single operation is low compared to the overall stock, and the tool positioning focuses on repairing the liquidity of the secondary market for old long-term bonds, mitigating the risk of a pulse-upward trend in remote yield, and making it difficult to reverse the large pattern of US bond supply. After the news was announced, the yield on 30Y US bonds fell rapidly, and the price of gold successfully broke through the previous phased high and reached 4,500 for a short time. The policy itself is not enough to independently drive the gold price trend, but the signal transmission and market interpretation are optimistic. On Thursday night, Bezent increased its “TACO” efforts, indicating that the maximum bond repurchase limit may exceed 4 billion US dollars. Gold and silver continued to rise rapidly. Silver broke through resistance at the weekly level and successfully reached the annual line. Gold also remained stable above 4,500 US dollars/ounce. Combined with the rapid inflow of funds from single-day ETFs yesterday, capital and sentiment towards precious metals have already given direction. If gold stabilizes at 4,500 US dollars/ounce in the short term, we will pay more attention to the 4600-4,700 range. After the technical breakdown, silver will look further around 71.5 US dollars/ounce, corresponding to the Shanghai Bank of China's 17300-17500 yuan/kg. Gold bulls following the trend are recommended to continue holding after breaking through $4,450 on Wednesday night.