One kilogram and a five hundred gram gold bars next to one kilogram silver bars at The Vaults Group gold dealers arranged in Barcelona, Spain. Photographer: Angel Garcia/Bloomberg
Commodities
C
CNBC TV1807-01-2026, 20:59

Global Metals Melt-Up: US Debt, Dollar Fears & FOMO Fueling Historic Rally

  • Gold, silver, and industrial metals are experiencing a spectacular rally, driven by concerns over US debt, dollar stability, and a global shift to hard assets.
  • US debt stands at $37 trillion, growing rapidly, raising fears of dollar devaluation and pushing investors towards commodities as monetary insurance.
  • Gold surged nearly 60%, silver 150%, and copper over 50% in the past year, prompting experts to call it a 'metals melt-up' rather than a conventional cycle.
  • Experts like Peter McGuire believe gold is in the early stages of a supercycle, with a near-term target of $4,750, entering the global mainstream.
  • While FOMO drives retail investor interest, financial planners caution against chasing momentum without a clear allocation framework and diversification.

Why It Matters: US debt, dollar fears, and FOMO are driving an unprecedented global metals rally, urging cautious investor strategy.

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