Gift Nifty Up, Gold & Silver Surge as US Treasury Move Boosts Risk Appetite

The US Treasury announced it will double the size of its buyback operations for longer-dated bonds (10-30 year), from $2 billion to $4 billion per operation, starting September 9. In simple terms: the US government will now buy back more of its own long-term debt, which reduces the amount of these bonds that private investors need to absorb. Why does this move markets? When there's less long-term debt for investors to buy, yields on that debt tend to fall (bond prices and yields move opposite each other). Lower US yields make the dollar less attractive to hold, which is why the dollar weakened. And when yields and the dollar fall together, it typically becomes a friendlier backdrop for risk assets like equities, gold, and silver — since investors have less incentive to sit in "safe" dollar-yielding assets. This is exactly what's playing out at the US open Gift Nifty is trading higher, and both gold and silver are sharply up, reflecting this broader risk-on, weaker-dollar move. Watch out for Nifty opening tomorrow Bond yields, the dollar, and risk assets are deeply interconnected — when a policy move pushes yields and the dollar lower together, it generally eases financial conditions globally, which is why a US Treasury bond announcement can move Indian equities and gold prices in the same session.