Why an announcement from the Treasury sparked a rally in gold and bitcoin this week

Center-Left: <a href="https://www.axios.com/2026/08/22/trump-affordability-beef-consumers" rel="noopener nofollow">Trump finds tamping down costs to be tricky — www.axios.com
Right: <a href="https://dailycaller.com/2026/08/21/dollar-sinks-as-investors-flock-to-gold-crypto-after-bessents-treasury-buyback" rel="noopener nofollow">Dollar Sinks As Investors Flock To Gold, Crypto After Scott Bessent’s Treasury Buyback — www.dailycaller.com

Source: www.marketwatch.com · Section: business-tech · Bias: Center · Published: Sat, 22 Aug 2026 13:00:00 GMT

Cryptocurrencies and precious metals shot higher, while the U.S. dollar weakened, after the Treasury Department said it planned to double its bond buybacks.