US Treasury Intervention Drives Gold and Silver Higher
The US Treasury's currency intervention is driving gold and silver prices higher
After an explosive start to 2026, silver experienced a severe 50% pullback from its all-time highs into the summer months.
Driven by crowded positioning and central bank gold sales to defend currencies, the metals market looked exhausted.
However, early August brought a sudden reversal, sending silver 16% higher in a matter of days.
Jim Iuorio of JI Financial Strategies breaks down the macro drivers behind the recent breakout in both gold and silver.
A key catalyst appears to be recent currency interventions by the U.S.
Treasury and the Bank of Japan.
By actively working to strengthen the yen, the Treasury is signaling a broader effort to prevent the BOJ from selling U.S.
Treasuries, reflecting deep concern over elevated long-term bond yields.
Jim explains why this coordinated effort to cap yields, potentially combined with a weaker U.S. dollar, creates a highly supportive environment for precious metals.
Furthermore, we examine the setup going into the highly anticipated August 12 CPI release.