It appears record auctions of long bonds have been planned for next week. Nothing like unprecendented spending as both corporate and individual tax revenues plunge. Gold is trying to hold the $960 level despite relentless selling pressure.

Regards - VHF

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U.S. Treasury to Sell $75 Billion in Long-Term Debt

By Rebecca Christie

Aug. 5 (Bloomberg) -- The U.S. Treasury plans to sell a record $75 billion in its quarterly auctions of debt next week and indicated plans to expand inflation-indexed securities next year as it finances unprecedented budget deficits.

The Treasury plans to auction $37 billion in three-year notes on Aug. 11, $23 billion in 10-year notes Aug. 12 and $15 billion in 30-year bonds Aug. 13. The amounts matched the median forecast of analysts surveyed by Bloomberg News.

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