Dollar weakness fuels metals rally as crypto lags global markets
CNBC Television
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January 29, 2026 at 03:42 PM UTC
Bullish
90% Confidence
Watch on YouTube
Key Points
- Dollar weakness (ICE US Dollar Index down 10.77% over 1 year) is expected to persist due to pro-cyclical global growth and a dovish Fed.
- Precious metals like Gold (up 98.68% over 1 year) and Silver (up 273.01% over 1 year) are experiencing a 'debasement trade' rally, with potential for gold to reach $6,000-$8,000.
- Emerging markets (iShares MSCI EM Mkt EEM up 43.05% over 1 year) and industrial metals like Copper (up 47.28% over 1 year) are also seeing strong optimism and demand.
- Cryptocurrencies (Bitcoin, Ether, Solana, Litecoin) have lagged this trend, still recovering from recent deleveraging events, but could see a subsequent rally.
AI Summary
The discussion centers on the dollar's decline, which is fueling a significant rally in precious and industrial metals, driven by a 'debasement trade' and global pro-cyclical growth. While emerging markets are also benefiting, cryptocurrencies are lagging, though some anticipate a delayed positive response.
Model Analysis Breakdown
| Model | Sentiment | Confidence |
|---|---|---|
| Gemini 2.5 Flash | Bullish | 90% |
| Consensus | Bullish | 90% |