Gold tops $5,300 as weak dollar 'supercharges' rally
Yahoo Finance·2026-01-28 23:50
Gold (GC=F) futures jumped above $5,300 per ounce on Wednesday before easing as a weak dollar fueled the debasement trade, driving investors away from fiat currencies and government bonds. The US dollar stabilized on Wednesday after sliding to its lowest level in nearly four years as President Trump shrugged off concerns of an easing greenback. A weaker dollar has helped drive the price of bullion higher, extending year-to-date gains to 20%. "Dollar weakness is supercharging the rise in gold....adding ...