The U.S. dollar weakened to more than four-year lows on Tuesday after President Donald Trump said he is “not concerned” about the greenback’s recent decline, adding that its value is “great.”
The remarks added fuel to a dollar selloff that has been building for weeks — and sent shockwaves through commodity markets, where gold and silver are now posting some of the steepest moves on record.
What Happened To The Dollar?
Speaking to reporters late Tuesday, Trump dismissed concerns that the dollar had fallen too far.
“No, the dollar is doing great,” Trump said when asked about the greenback’s weakness.
“If you look at China and Japan, I used to fight like hell with them because they always wanted to devalue their currencies,” he added. “It’s hard to compete when they devalue.”
Following those comments, the U.S. dollar index (DXY) — closely tracked by the Invesco DB US Dollar Bullish Fund (NYSE:UUP) — slid to as low as 95.5, its weakest level since February 2022.
Gold And Silver Explode Higher
A weaker dollar is turbocharging commodities, especially precious metals.
Gold, tracked by the SPDR Gold Shares (NYSE:GLD), spiked above $5,300 per ounce. Prices are now up 22% this month. January 2026 is on pace to become gold’s best month since …Full story available on Benzinga.com
