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

That sudden huge Green spike in the US Dollar followed by the big Red dip in Silver and Gold.

In case anyone is still wondering how strong the correlation between the Dollar and the metals is right now.

Looks like it is bouncing back a bit. Up to $69.38 right now.

Make that into the ~$66 zone...

For whatever it's worth, this is the current "Market Alert" over at APMEX.com: "Metals Fall on Inflation Outlook, Rate Hikes More Likely."

Yeah that's exactly what's happening, Warsh's comment is being interpreted as a 'green light' for a rate hike. Sending the Dollar through the roof and dumping metals and high flying stocks.

Is the market over reacting? Yes. Absolutely. This is what the market does. No one wants to be left holding the bag. When the market panics it dumps the baby with the bath water and asks questions later.

Silver hit $71+ today and could have just as easily shot up to $75 had Warsh's comment been more dove'ish.

There's still a few week's before he announces whether or not he'll actually go through with it. In the coming weeks leading to that we'll be getting the next series of economic and inflation reports for August. So I'm sure we're in for a rollercoaster ride every time a report is released.

Everyone assumes that Warsh is just a lackey or a servant to the president. And that he'll do whatever his 'Boss' wants, which is not to raise interest rates... But the Markets fear or 'risk' is that Warsh will dispell that myth in September. No one knows how this will end.

So Buckle up for the next few week's.