Is Silver Ready To Hit $50 - 1/29/2026: Will It Hit $130? - Previous Milestones In First Post

So the week ends with silver back down in the ~$64 zone.

Thanks for the fun facts Harry213.

And now up to $66!

Breaking News- Good news for Silver and metals. The Dollar cracked over the weekend.

The Dollar has been on an uphill slope or what we call an ascending trendline, ever since February.. Last night the Dollar fell below that trend, thus signaling to the metal's that the Dollar may be starting to weaken.

The Dollar had previously dropped 2 weeks ago when the Fed announced it wasn't going to raise rates. But it has been holding steady since. Until last night.. Kind of like when you're walking along not paying attention and don't notice there's a step in front of you, until you step off and your body realizes there's nothing beneath your feet. We've all experienced that little fall or stumble.

If you were paying attention to Silver and Gold last night, Sunday night around 10-11 PM, you saw Silver shoot up to $66.39
Well what you witnessed there was Silver and Golds knee jerk reaction to the Dollar falling off that step. And that's why metal's are up today.

Very interesting indeed.
Not something I was expecting to see at all.

I'm going to have to watch closely and possibly change my strategy on metals. I went short on SLV and then Friday I went short GLD. I was only expecting a small pullback to $62-$60 anyway.

Up to this point I wasn't betting on Silver going to $69-$70
However the probability is definitely more likely now.

So what is happening?

Here's what I think. The US Dollar and the Metals might be sniffing out that there won't be any interest rate hike this year at all.

The Fed said there would be 2 rate hikes by end of year to tame inflation. Then he said he would leave it in the hands of the market and the economy to determine if that would be necessary.

We've had a flurry of economic Data released over the past few weeks.

First unemployment showed a big loss in jobs. We know we can't trust the labor numbers anymore but if they admit job losses then the number was probably even bigger than what they admit.

Then CPI and PPI numbers were soft, indicating some stability. And if the Iran war was to end then the higher food and energy prices would go away, no rate hike required for that.

Then Retail numbers came out weaker than expected. People spending less, makes sense if there's less jobs and people don't have extra cash due to higher prices.

Then the Consumer Confidence Reports metrics show growing caution and weakening sentiment among households.

All these things are sign that the engine that's running the economy is slowing down, naturally that would bring down inflation.

Good news is inflation goes down, bad news is GDP goes down.

No rate hike means Dollar goes down and metals go up.