🚨 THIS COULD BE A GAME CHANGER FOR METALS AND RISK ASSETS $OM
Big news emerged yesterday: Russia is seriously considering returning to dollar-based settlements as part of a broader economic partnership with President Trump.
For the past 3–4 years, Russia has been the loudest voice pushing de-dollarisation, dumping USD assets and encouraging others to do the same. That narrative fueled the entire “death of the dollar” trade.
A bunch of countries followed, slashing Treasury holdings and piling into gold and silver, which is why the DXY bled lower and precious metals went parabolic.
But if Russia flips back to the dollar, that whole trade could collapse overnight.
Higher USD demand would strengthen the dollar, and a strong dollar has always been toxic for commodities.
Metals would take the biggest hit. The entire “currency debasement hedge” story falls apart.
Equities and crypto would feel pain too, but probably short-lived.
Why? A Russia–U.S. energy partnership would flood markets with supply, lower inflation, create a less hawkish Fed, and reduced uncertainty.
This would lower the odds of rate cuts, but clarity is rocket fuel for risk assets.
Remember, Bitcoin ripped higher in 2023 even with rate hikes and QT.
Stocks and crypto thrive on certainty. If this deal actually happens, it’s medium to long-l term bullish for both.
Gold and silver could be starting a multi-year bear market. 👀
