Dollar weakness is boosting precious-metals ETFs like GLD, SLV, and PPLT, creating strong momentum and investor inflows.
In recent weeks, the U.S. dollar has softened significantly, with the DXY index hovering near 97.4, its lowest in over a year, as it struggles to reclaim its 50‑day moving average.
This sustained dollar weakness has brightened the spotlight on precious‑metals ETFs that typically thrive when the greenback falters. For investors, that means fresh ETF inflows and compelling entry points.
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Dollar Drag and ETF Boom
A sliding dollar boosts demand for dollar‑priced metals, making bullion and related ETFs more attractive.
Barron’s research shows that during recent dollar dips in February and May, VanEck Junior Gold Miners ETF surged about 34% and 15%, while abrdn Physical Platinum ETF jumped 45%, and iShares Silver Trust (SLV) returned 5% – 12%.
Simultaneously, spot gold reached $3,389.98/oz, its strongest since mid-June, on the back of weaker dollar and Treasury yields.
Top Precious‑Metal ETFs to Watch
Gold‑centric funds are riding the trend. SPDR Gold Shares (GLD) is up roughly 27% year-to-date, fueled by a record $38 billion in ETF inflows during H1.
In silver, SLV has gained about 27% this year, with silver trading above $37 – $39/oz, its highest in over 13 years. Meanwhile, platinum-focused PPLT (abrdn) has rallied nearly 50%, supported by rising platinum prices and tight supply.
Finally, the junior miners ETF gives high leverage to gold moves, ideal for aggressive investors.
Why the Dollar is Slumping — and What It Means
Multiple factors are dragging the dollar down: deepening U.S. fiscal deficits, trade tensions (especially looming tariffs), and expectations of Fed rate cuts or delays, all favoring precious‑metal gains.
As long as the dollar remains pressured and Treasury yields stay low, metal ETFs should continue to outperform, especially those offering direct or leveraged exposure.
Conclusion
Dollar weakness has set the stage for precious‑metals ETFs to shine. Key funds to watch include GLD, SLV, PPLT, and VanEck Junior Gold Miners. If you are investing, ensure to track DXY levels (97 – 100), Fed messaging, and Treasury yields for future ETF momentum cues.
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