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The dollar’s weakening, and the metals are absolutely ripping. I’ve been tracking this setup for weeks, and gold responded in a massive way over the weekend — breaking through $5,000 on what’s essentially still just rumors about coordinated action between the U.S. and Japan.
A weak dollar acts like rocket fuel for precious metals, and we’re seeing that play out in real time.
There’s also a deeper historical undertone here. The situation has shades of the original Plaza Accord from the mid-80s, when world powers teamed up to intentionally weaken the dollar after it had crushed Japan’s economy.
That agreement triggered a massive currency rebalancing and left deep scars. Now we’re seeing hints of a modern version — quiet coordination, subtle moves and a shift in tone that could ripple through the yen and U.S.-Japan relations all over again.
If the dollar really starts to slide, gold’s going to the moon and silver’s right behind it — plus platinum, copper and palladium. And this doesn’t just stop at metals. A weaker dollar typically lifts commodities across the board, so oil and global-facing U.S. stocks could get a boost as well.
Let me walk you through what I’m seeing and exactly how I’m positioning.
The Dollar’s Path Lower — and What It Means
We’re likely getting a lower low than what we saw back in September. The technical setup has been lining up almost perfectly. I’m watching the dollar (DXY) for wave three to bottom around 96.68, maybe even a bit lower. After a corrective bounce that shouldn’t break 97.75, we should see the final push that drives the dollar down toward 94 or even 92.
When I first mapped out this whole decline, 92.40 stood out as the sweet spot for a major correction, and nothing we’re seeing now suggests that target is off the table.
As the dollar makes its way down, the yen could see a sharp counter-move higher — especially if Japan quietly supports this shift. Any coordinated effort between the U.S. and Japan would only accelerate the dollar’s slide and amplify the metals’ breakouts.
My Targets Across the Metals Complex
Gold’s already clearing levels I’ve been watching for months, and if this momentum continues the next major area isn’t until around $8,900. Silver already smashed through $100 on Friday — the first metal to hit a major psychological milestone — and the next resistance level is $121.
If silver closes the gap with gold using the classic 15-to-1 ratio, we could be staring at $338. No promises — but the setup’s powerful.
Platinum has been the monster play, running from the $120 break to nearly $270. It still has room, possibly up to $400, making it one of the biggest catch-up opportunities in the entire metals space.
The pattern across markets is clear: weak dollar, strong metals, rising commodities and a tailwind for multinational stocks. This script has played out throughout history, and we’re watching it unfold again right now.
Jeffry Turnmire
Jeffry Turnmire Trading
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I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.
I’ve been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it’s the Eagle Scout in me.
*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
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