Silver rose to $65.5 per ounce on Wednesday, its highest level in two months, after the U.S. Treasury announced it would double buyback operations for long-term securities. The move sharply lowered longer-term Treasury yields, including a roughly 9-basis-point drop in the 30-year yield to 5.19%, improving the appeal of precious metals that do not pay interest. The Treasury previously said the expanded program would begin Sept. 9, raising the ceiling for each operation from $2 billion to at least $4 billion to meet demand for long-term government bonds and improve market liquidity. The operations alter the maturity structure of U.S. debt rather than reduce its total amount, while fiscal pressure and rising interest costs remain concerns as government debt approaches $40 trillion. Silver also benefited from industrial-demand expectations, with Chinese imports of silver-bearing ores rising 62.5% annually in June to 219,000 tonnes amid expanding production of solar panels and electricity grids. The Treasury's efforts to limit pressure at the long end of the yield curve, including intervention in the yen market and calls for the Federal Reserve to increase limits on the FIMA facility, further supported the market narrative. However, lingering risks of a renewed rise in energy prices kept silver relatively close to its seven-month low of $55 per ounce recorded on July 16.