Treasury auction adequately bid, gold pushes higher

CNBC/Maggie Fitzgerald and Vicky McKeever

Repost from 3-8-2021

graphic image of Uncle Sam saying I need vast sums of money“U.S. Treasury yields dipped slightly on Wednesday after key 10-year Treasury auction data showed enough demand to stave off fears of investors worried about a possible slump in demand for the government’s debt and a recent rapid rise in rates.”

USAGOLD note:  As gold has been victimized, so now it becomes a beneficiary. A question still hangs over the market as to what role the Fed will play in financing the burgeoning national debt in the absence of U.S. debt takers.

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