The dollar is being undercut by risks to the Federal Reserve’s independence, a growing US budget deficit, fiscal profligacy, and widening political polarization. In addition, the dollar is weighed down by speculation that the US might coordinate FX intervention with Japan to boost the yen, which would dovetail with Mr. Trump’s apparent view that a weak dollar is good for the US as a stimulus to US exports. The yen rose to a 2.75-month high against the dollar on Tuesday as US authorities reportedly contacted ...

The markets are discounting the odds at 3% for a -25 bp rate cut at the conclusion of today's FOMC meeting.The risk of another partial US government shutdown is also weighing on the dollar. Senate Democrats threatened to block a government funding deal over Department of Homeland Security/ICE funding after the ICE shooting of an ICU nurse in Minnesota on Saturday. There could be a partial government shutdown when the current stopgap funding measure expires this Friday. In addition, the dollar is being under ...

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting with competent advisors before making any financial decisions, particularly in relation to investments in cryptocurrencies and CFDs [1]. Group 1 - The website provides general news, personal analysis, and opinions, as well as materials from third parties for educational and research purposes [1]. - It explicitly states that the information should not be interpreted as a recommendation or advice for any financial actions, including investments or purchases [1]. - The accuracy and reliability of the information are not guaranteed, and users are advised to consider their individual financial situations before relying on the content [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and CFDs, which carry a high risk of losing money [1]. - Users are encouraged to conduct their own research and fully understand the workings and risks of any financial instruments before investing [1].

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Core Viewpoint - The dollar is experiencing significant weakness due to various factors including Federal Reserve policies, geopolitical tensions, and economic indicators, which are influencing currency valuations and precious metals demand. Currency Market - The dollar is under pressure as the Fed increases liquidity by purchasing $40 billion a month in T-bills, leading to concerns about a dovish Fed Chair appointment by President Trump [1] - The dollar index fell to a 3.5-month low, down by -0.82%, influenced by stronger yen and positive UK economic news [5] - The yen strengthened significantly, rising from a 1-week low to a 4-week high amid speculation of Japanese government intervention in the forex market [7] Economic Indicators - The University of Michigan's January 1-year inflation expectations were revised lower to 4.0% from 4.2%, while the 5-10 year expectations were also revised down to 3.3% from 3.4% [4] - The Japan January S&P manufacturing PMI rose to 51.5, marking the strongest expansion in nearly 3.5 years, while the national CPI rose by +2.1% year-on-year, slightly below expectations [9] Precious Metals Market - Precious metals are gaining support due to safe-haven demand amid geopolitical risks and expectations of easier monetary policy from the Fed [13] - Strong central bank demand for gold is evident, with China's PBOC increasing its reserves by +30,000 ounces to 74.15 million troy ounces in December [14] - Fund demand for precious metals remains robust, with gold and silver ETF holdings reaching multi-year highs [15]

Core Viewpoint - The rising gold prices, currently at $4,778.51 per ounce, are driven by safe-haven demand and policy signals, with expectations that prices may continue to rise beyond $4,778 [2][12]. Group 1: Gold Price Movements - Spot gold rose 0.3% to $4,778.51 per ounce after reaching an all-time high of $4,887.82 earlier in the session [2]. - U.S. gold futures for February settled 1.5% higher at $4,837.50 [2]. - Gold prices increased by 64% in 2025 and are up 11% so far in 2026, indicating sustained investor demand amid political and economic changes [10][14]. Group 2: Influencing Factors - The increase in gold prices is attributed to a mix of policy uncertainty, interest rate expectations, and demand for safe assets [4][12]. - The U.S. Federal Reserve is expected to maintain steady interest rates, which reduces the cost of holding gold [9][14]. - Political discussions around trade and security continue to support gold demand, despite short-term corrections following record price levels [4][14]. Group 3: Market Reactions - Following President Trump's reversal on tariff threats related to Greenland, gold prices trimmed gains due to reduced geopolitical pressure, although the broader upward trend remained intact [3][5]. - Equity markets reacted positively, with the Dow rising 722 points, the S&P 500 gaining 1.47%, and the Nasdaq climbing 1.6% [8][14]. Group 4: Broader Metals Trends - The movement in gold prices is part of a wider trend in metals, with spot silver falling 3.6% to $91.17 after reaching $95.87, while platinum touched a record of $2,543.99 before easing [10][14]. - Palladium declined to $1,825.85, indicating volatility in the broader metals market [10][14]. Group 5: Investor Strategies - Investors are advised to monitor U.S. interest rate decisions, Federal Reserve policy signals, and political developments related to trade and security [11][14]. - Short-term price swings are anticipated after record highs, emphasizing the importance of risk management [11][14].

Core Insights - Gold Fields Limited (GFI) shares reached a 52-week high of $53.31, closing at $52.89, reflecting a significant increase of 227.7% over the past year, outperforming the Zacks Mining-Gold industry's rise of 148.1% [1][2][8] Production and Financial Performance - GFI reported a strong third-quarter 2025 performance with gold-equivalent production of 621,000 ounces, marking a 6% quarter-on-quarter and 22% year-on-year increase, driven by the Salares Norte project in Chile, which produced 112,200 ounces, a 53% quarterly increase [5][8] - All-in Sustaining Costs (AISC) decreased by 10% quarter-on-quarter to $1,557 per ounce, while All-in Costs (AIC) fell by 11% to $1,835 per ounce, indicating effective cost management [5] Growth Strategy - GFI's growth strategy includes organic project development and strategic acquisitions, notably the Salares Norte project in Chile and the acquisition of Osisko Mining, which targets 300,000 ounces annually at an AISC of $758 per ounce, with a Final Investment Decision (FID) expected in Q1 2026 [6][8] - The completion of a A$3.7 billion acquisition of Gold Road Resources secures full ownership of the Gruyere mine, which produces 350,000 ounces annually, further enhancing GFI's production capabilities [7]

Group 1 - The New York Stock Exchange (ICE) is developing a platform for 24/7 trading of tokenized securities [4] - A new proposal is being considered that would allow 401(k) savers to use their funds for home down payments [4] - The U.S. delegation at Davos is the largest in history, with President Trump emphasizing an "America First" framework [5] Group 2 - Secretary of State Marco Rubio will focus on transitioning from multilateral treaties to transactional deal-making [5] - Treasury Secretary Scott Bessent will address tariff and financial policy, while Commerce Secretary Howard Lutnick will stress the importance of bringing manufacturing back to the U.S. [5] - The U.S. is threatening tariffs of up to 25% against eight European countries regarding Greenland, amid concerns over Russian and Chinese advances [5] Group 3 - Gold and silver have seen significant price increases, with spot gold reaching a record high of $4,730 per ounce, driven by tariff tensions and geopolitical volatility [5] - Institutional investors are diversifying into physical gold as trade flows de-dollarize [5] - Tesla may benefit from a Canada-China EV tariff deal [6]

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting with competent advisors before making any financial decisions, particularly in relation to investments in cryptocurrencies and CFDs [1]. Group 1 - The website provides general news, personal analysis, and third-party materials intended for educational and research purposes [1]. - It explicitly states that the information should not be interpreted as a recommendation or advice for investment actions [1]. - The accuracy and reliability of the information are not guaranteed, and users are cautioned against relying solely on the content provided [1]. Group 2 - The website discusses the complexities and high risks associated with cryptocurrencies and CFDs, highlighting the potential for significant financial loss [1]. - It encourages users to conduct their own research and fully understand the instruments and risks involved before making investment decisions [1].

Economic Outlook - The US economy is demonstrating "resilience," with Minneapolis Fed President Neel Kashkari indicating no current impetus for the Fed to cut interest rates this month [1] - The November PPI final demand increased by 3.0% year-over-year, surpassing expectations of 2.7% [1] - The dollar found support from stronger-than-expected US economic data, including retail sales and producer prices [1] Federal Reserve Insights - The Fed Beige Book reported a slight to modest pace of economic activity growth across most regions since mid-November, marking an improvement from previous reports [2] - Philadelphia Fed President Anna Paulson anticipates inflation moderating and growth around 2% this year, suggesting modest rate adjustments may be appropriate later in the year [3] - Markets are currently pricing in a 5% chance of a 25 basis point rate cut at the upcoming FOMC meeting on January 27-28 [3] Currency Market Dynamics - The dollar index fell by 0.03% on Wednesday, pressured by a rally in the yen and concerns regarding Fed independence [2] - The dollar is expected to face ongoing weakness as the FOMC is projected to cut interest rates by approximately 50 basis points in 2026 [4] - The dollar is under pressure due to increased liquidity measures by the Fed, including a $40 billion monthly purchase of T-bills [5] Precious Metals Market - Precious metals, including gold and silver, surged due to rising tensions in Iran and safe-haven demand, with gold reaching an all-time high of $4,635.00 per ounce [11][12] - Strong central bank demand for gold is evident, with China's PBOC reserves increasing by 30,000 ounces to 74.15 million troy ounces in December [17] - Fund demand for precious metals remains robust, with gold and silver ETF holdings reaching multi-year highs [18]