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The dollar is ripping, gold and silver are getting smoked, and the market is once again convincing itself that the Fed is somehow going to thread the needle.
The U.S. Dollar Index just pushed to its highest level since May 2025, with the DXY climbing above 101 as traders rush to price in a more hawkish Fed and the possibility of renewed rate hikes.
At the same time, gold has been hit for roughly 2% and silver closer to 5% in the latest move, extending a correction that has now taken both metals sharply off their highs. Gold is now down more than 20% from its January peak, while silver has gotten absolutely mauled on a percentage basis as the market reprices for “higher for longer” all over again.
And that, to me, is exactly why this setup is starting to get interesting again.
Read more here.
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