Silver (XAG/USD) trades sharply higher on Wednesday, changing hands near $65.80. The metal is riding a broad rally across precious metals with Gold (XAU/USD) soaring toward $4,500.
The trigger was the United States (US) Department of the Treasury, which said it will increase, by at least double, the size of its liquidity support buyback operations for longer-dated coupon securities, effective September 9. The plan aims to rein in the recent surge in long-end yields, and it did just that.
The other set-piece of the session was the release of the July Federal Open Market Committee (FOMC) Minutes. The record showed policymakers still regard…
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