MACRO SHIFT ALERT: THIS COULD CHANGE THE GAME FOR METALS & MARKETS
A major geopolitical pivot may be unfolding.
Reports suggest that Russia is considering a return to U.S. dollar settlements as part of a broader economic understanding with President .
If true, this is a significant reversal.
Over the past 3–4 years, has been one of the loudest voices behind the global de-dollarization movement — encouraging trade in local currencies and reducing exposure to U.S. assets. That narrative helped pressure the (DXY) and fueled historic rallies in gold and silver as central banks diversified reserves away from Treasuries.
But now, the tide may be turning.
A shift back to dollar-based settlement would: • Increase structural demand for USD • Strengthen the dollar • Reduce the urgency of the “currency debasement” trade
Historically, a stronger USD is bearish for commodities and risk assets. Precious metals could face the most pressure, as their rally has been closely tied to dollar weakness and reserve diversification flows.
Equities and crypto may see short-term headwinds — but the bigger picture is more nuanced.
If renewed U.S.–Russia economic cooperation expands global energy supply, inflation could ease. That would reduce pressure on the to stay aggressively hawkish and remove a major layer of macro uncertainty.
And markets love certainty.
Remember: rallied strongly in 2023 even during rate hikes and quantitative tightening. Risk assets don’t just react to liquidity — they react to expectations.
If a dollar-aligned trade framework becomes reality, the mid-to-long-term outlook could turn constructive for stocks and crypto… even if #GoldandSilver enter a prolonged consolidation phase.
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