Gold and silver likely to see huge gains as debasement trade

Gold prices rose 2.8% to $4,489.40 per ounce, the highest since May 29, after the U.S. Treasury announced increased buybacks of longer-dated debt, lowering Treasury yields and weakening the dollar. Silver also gained 2.8% to $65.734. The 30-year Treasury yield fell 9 basis points to 5.19%, its biggest one-day decline since October. Gold miners like Hycroft Mining and Hecla Mining saw significant gains. TD Securities noted that Treasury liquidity support and stagflation concerns could boost gold

Gold, represented by SPDR Gold Shares (GLD), rose 3% after the U.S. Treasury doubled its long-dated bond buybacks, reducing yields and weakening the dollar. The move, seen as a signal to control long-term yields, was unexpected and boosted gold. Traders debate the impact, with some predicting further bond selloffs. Peter Schiff suggests buying gold and selling Bitcoin, though Bitcoin rose 5%.

ConocoPhillips started oil production at its $800M Coyote 3SX project in Alaska, ahead of schedule and under budget. The project, in the Kuparuk River Unit, aims for 12,000 bpd peak production, leveraging existing infrastructure. The company expects increased production to support the Trans-Alaska Pipeline System.

Chevron's Venezuelan crude shipments are helping stabilize U.S. gas prices amid the Iran conflict. The company's operations have increased output by 15%, with plans for further growth. However, the situation is complex due to political and legal challenges in Venezuela and the U.S.

Gold and silver prices surged after the US Treasury announced doubling its buybacks of long-term bonds, reducing yields and boosting bond prices. Gold rose $100 to $4460 per ounce, while silver rebounded above $65. The SPDR S&P500 ETF (SPY) and GLD gold ETF also gained. The Treasury's move aims to support liquidity, impacting markets and housing.

A report by World Oil indicates that major oil companies saw profits surge to $90 billion in Q2 2025, nearly double the same period in 2024, due to supply disruptions in the Strait of Hormuz. Key beneficiaries include Saudi Aramco ($33B), BP ($5.73B), and Chevron ($12B). The surge is linked to geopolitical tensions and rising oil prices, with Brent crude climbing from $68 to $100 per barrel. Critics call for windfall taxes on oil companies.