Quant funds rocked as Treasury boosts buybacks and Moderna shares leap

Silver (SI=F) September futures commenced trading at $67.08 per ounce on Thursday, August 20, 2026, marking a 1.9% increase from the previous day's close. The precious metal saw a brief dip in the morning, settling at $66.81 as of 9:04 a.m. Eastern Time. However, the silver price opened higher on Thursday, buoyed by a decision by the U.S. Treasury to double the buybacks of long-term bonds.

This move, which could reach $4 billion or more per operation, was seen as a short-term boost to the market, given its valuation of $32 trillion. The impact on long-term borrowing costs is expected to be minimal. Despite the initial rally, silver ended the day slightly lower than its peak, returning to its opening price range. Over the past year, silver's year-over-year growth stood at an impressive 173.3%, surpassing its performance in May.

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