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Gold and bitcoin ($BTC) both rallied and the U.S. dollar fell after the Treasury Department said this week it planned to double its bond buybacks, according to reports.
The Treasury's buyback program pulls existing government debt off the market and returns cash to sellers.
Doubling the scale of those purchases would inject more of that cash into the financial system, where sellers need to find a new home for it.
Based on this week's market action, a portion moved into precious metals and crypto. The dollar's retreat is the detail worth examining.
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