# Gold tops $5,500, silver rises while Powell downplays metal rally | Euronews

> Gold rose above $5,500 and silver hit record highs as the dollar slipped to a four-year low. Fed Chair Powell said the Fed does not take much macroeconomic message from the precious metals rally and defended the central bank's credibility.

- Date: 2026-01-29 · published 2026-01-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/20963-gold-tops-5-500-silver-rises-while-powell-downplays-metal-rally-euronews
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Dollar weakness and political pressure on the Fed support dollar-denominated commodity prices, but the metals rally itself has little direct effect on feed markets.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-11-28 | [Dollar drops as Fed's Powell says rates near neutral](https://feedsoft.ai/events/62245-dollar-drops-as-fed-s-powell-says-rates-near-neutral.md) | -0.8% | -0.8% |
| DXY | 2021-08-27 | [Gold jumps after Fed's Powell fails to signal taper timeline](https://feedsoft.ai/events/45479-gold-jumps-after-fed-s-powell-fails-to-signal-taper-timeline.md) | -0.9% | -0.0% |
| DXY | 2019-03-01 | [WCU Gold lifted by Fed dove while oil pauses \| Saxo](https://feedsoft.ai/events/59993-wcu-gold-lifted-by-fed-dove-while-oil-pauses-saxo.md) | +1.1% | +0.9% |
| DXY | 2020-05-29 | [What’s driving the Euro's sharp rally?](https://feedsoft.ai/events/53355-what-s-driving-the-euro-s-sharp-rally.md) | -1.4% | -0.6% |
| DXY | 2020-09-30 | [Dollar Hits the Ropes, Euro and Pound Rally after Washington Edges toward Stimulus Deal](https://feedsoft.ai/events/51375-dollar-hits-the-ropes-euro-and-pound-rally-after-washington-edges-toward.md) | -1.1% | -1.5% |

## Sources

- euronews.com: https://www.euronews.com/business/2026/01/29/gold-tops-5500-silver-rises-while-powell-downplays-metal-rally

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.