US Treasury Boosts Repo Operations, Precious Metals and Yields React

Published: Aug 20, 2026 09:14

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[SMM Precious Metal Express] The US Treasury announced it will at least double the size of long-term nominal Treasury repurchase operations, with a maximum single operation of at least $4 billion, effective September 9. Treasury markets rallied following the announcement, with long-term yields falling notably. The dollar index dropped as much as 0.85% intraday, its largest decline in three weeks, hitting its lowest level since mid-May. Precious metals rallied strongly, with spot gold breaking above the $4,500 level, gaining over $180 intraday to hit a new high since early June, closing up 4.35% at $4,523.03/oz. Spot silver closed up 5.80% at $67.01/oz.

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