Dollar gains, precious metal prices, the AI battle, and new stage for Ethereum

[Ben Graham]

The past few days were marked by several high?profile events capable of reshaping the balance of power in global financial markets.

The US decision to abandon tough trade measures over Greenland sparked a strengthening of the dollar, while rising geopolitical tensions pushed gold and silver to new record highs.

Against this backdrop, investors also turned their attention to the technology sector: Apple announced a major overhaul of its Siri voice assistant and the integration of advanced AI solutions, which led to a notable rise in the company's shares.

The crypto market did not stay on the sidelines either — institutional giant BitMine increased its investments in Ethereum, underlining a new phase of confidence in staking technology and a fundamental transformation in the blockchain network's infrastructure.

In this article, we'll look in detail at how these events are affecting currencies, commodities, high?tech stocks and digital assets, and examine what opportunities they open for retail and institutional traders.

Dollar strengthens after Trump backs off trade threats over Greenland

On Thursday, the US dollar continued to strengthen, surprising market participants and drawing traders' attention worldwide. The rise in the American currency was driven by a series of important political developments tied to the high?profile dispute over Greenland and shifting rhetoric toward European countries.

As of 10:53 GMT, the dollar index, which measures the US currency against a basket of six major currencies, was up 0.1% at 98.33. This extended Wednesday's trend, when the currency recovered after a six?week low seen the day before. The rapidly changing situation attracted traders looking for speculative opportunities.

The key factor was President Donald Trump's unexpected decision to remove threats of trade tariffs against several European allies. Those measures had previously been discussed as leverage in connection with the US interest in purchasing Greenland.

In addition, the U.S. president ruled out the use of military force to resolve the dispute, saying the matter could be settled peacefully. As a result, investors' fears of escalating geopolitical tension eased, which supported the dollar and renewed interest in American assets.

ING analysts noted in their review: "The dollar followed a relief rally in risk?assets after a framework agreement on Greenland prompted Trump to drop new tariffs on the EU."

Experts emphasize that markets still need greater clarity on the outcome of negotiations, and the upcoming Fed meeting on January 28 could shift market focus from political headlines back to macro data.

Besides geopolitical news, market participants are watching weekly initial jobless claims and updated US GDP data for Q3. Analysts say the core PCE index for November — one of the main gauges for future Fed rate moves — may become a key reference point for trading decisions.

Russia unexpectedly intervenes in the Greenland dispute. President Vladimir Putin, addressing a Security Council meeting, publicly valued the Arctic territory at $1 billion. He arrived at that number by referencing historical transactions such as the US purchase of Alaska for $7.2 million in the 19th century and adjusting for modern gold prices. Putin said Russia is not worried about Greenland's status and urged the US and Denmark to resolve the issue directly.

Foreign Minister Sergey Lavrov also commented, saying Greenland is not a "natural part" of Denmark and that its current status is a legacy of colonial times.

At the same time, it emerged that the US is seeking to revise a seventy?year defense agreement with Denmark to gain unfettered military access to Greenland. Sources familiar with the negotiations said Washington wants to remove clauses requiring consultations with Denmark and the Greenland government — provisions the US argues constrain its flexibility in the region.

Economic aspects of a potential deal were also discussed. Trump announced NATO and US involvement in allocating rights to develop rare?earth mineral deposits, with the stated aim of preventing non?allied countries — primarily China — from exploiting those resources.

In response, Greenlandic Prime Minister Jens?Frederik Nielsen called preservation of sovereignty a "red line," while Danish Prime Minister Mette Frederiksen said Denmark is open to dialogue but will not concede control of the territory.

Key takeaways and opportunities for traders

Major geopolitical shifts and changes in world leaders' rhetoric catalyzed moves in currency markets. The US decision to step back from harsh tariff measures against Europe and the announcement of intentions to seek a peaceful resolution over Greenland allowed the dollar to quickly reclaim prior losses and post gains. At the same time, investor attention is shifting from political risks to upcoming macroeconomic data and Fed rate prospects.

Traders should pay close attention to dollar dynamics and FX pairs against the USD and use the resulting volatility to identify optimal entry and exit points. Investment strategies in such periods can include short?term speculative trades as well as protective hedges while awaiting fresh US economic data.

All instruments mentioned in this review, including the dollar and major currency pairs, are available for trading on the leading InstaForex platform. Open a trading account and download the InstaForex mobile app to take advantage of opportunities in this turbulent market, stay on top of the news and react quickly to any geopolitical or economic developments.

Gold and silver rush to new record highs amid geopolitical shocks

On Friday, the precious metals market was in the spotlight: gold's price nearly reached the psychological mark of $5,000 per ounce, setting a new record high. The rapid rally was driven by intensifying geopolitical tensions, heightened statements from US President Donald Trump, and protracted weakeness of the dollar.

Gold smashed all records, hitting $4,967.48 per ounce. It has gained almost 15% since the start of 2026 and rose roughly 64% over the past year. The latest leg up followed a high?profile statement by President Trump, who announced that a large US naval group is moving toward the Iranian coast — a comment that once again added instability to an already tense Middle East. Remarks made by Trump on Air Force One on his return from the World Economic Forum in Davos quickly renewed investor demand for safe havens.

January was marked by a string of dramatic political events: a US incursion into Venezuela, threats to annexe Greenland and Trump's warnings to Iran following waves of protests. Markets calmed briefly after the president dropped tariff threats over Greenland, but fresh headlines from Washington soon changed sentiment and pushed demand for gold higher.

The dollar's weakness provided additional fuel: over the week, the Bloomberg Dollar Spot Index fell 0.8%, making precious metals more affordable for international buyers. Ahmad Assiri, a strategist at Pepperstone Group, says supply is failing to keep up with rising demand amid growing political uncertainty, producing unstable price peaks.

The rally also gripped silver: prices rose 3% to $99.03 per ounce — a record level, just shy of the key $100 mark. Silver has gained an impressive 39% year?to?date, outpacing gold. Platinum also set record highs, reaching $2,692.31 per ounce.

Concerns about the Federal Reserve's independence added to the uncertainty. On Wednesday, the US Supreme Court questioned the Trump administration's attempts to remove Fed Governor Lisa Cook. Justice Brett Kavanaugh warned such actions could significantly weaken or even destroy the Fed's independence.

Analysts at major global banks reacted quickly. Goldman Sachs raised its year?end gold forecast to $5,400 per ounce (previously $4,900), citing growing retail interest and active purchases by central banks seeking to diversify amid instability.

High volatility persists, and precious metals have become the primary instrument for capital protection. Rising prices for gold, silver and platinum reflect investors' search for reliable assets in times of uncertainty.

These moves also present trading opportunities: traders can play both the continuation and possible pullbacks in metals, open long and short positions, hedge portfolios or seek arbitrage across different instruments.

Apple challenges AI giants: shares jump after news of a new Siri chatbot

On Wednesday, Apple shares rose confidently, jumping 1.6% after a bombshell report from Bloomberg. The company's most ambitious move in years was revealed: Apple is preparing to upgrade Siri into a full?fledged AI chatbot, entering the generative?AI race dominated by players like OpenAI and Google.

The announcement coincided with a major sales campaign: Apple revealed temporary discounts in China ahead of the Lunar New Year. That both supported the stock and indicated the company's intent to shore up its position in one of the world's most competitive markets, ahead of its fiscal Q1 results due on January 29.

Bloomberg's Mark Gurman reports that Apple's internal AI chatbot project carries the code name "Campos." Developers plan to deeply integrate it into iPhone, iPad and Mac operating systems, replacing Siri's familiar interface. Users will be able to summon the enhanced service via voice command or the device's side button — same access points, but with entirely new capabilities.

Gene Munster, managing partner at Deepwater Asset Management, confirmed the AI roadmap on X, noting two major catalysts for Apple over the next eight months:

1. the updated Siri is expected to ship with iOS 26.4 in April;
2. the full?featured Siri chatbot is scheduled to launch with iOS 27 in September. Munster said Gurman's reporting is highly reliable — "Gurman is right about 90% of the time."

Apple disclosed that its new chatbot will run on an advanced, customized version of Google's Gemini model. The partnership with Google was officially announced on January 12. In time, Google's leading technologies will underpin Apple Intelligence, enabling a more personalized, "smarter" Siri this year.

Beyond AI, Apple is aggressively courting Chinese consumers. The company launched temporary discounts of up to 1,000 yuan (about $143) from January 24–27 on a range of devices — iPhone 16, iPhone 16 Plus and selected MacBook, iPad, Apple Watch and AirPods models. The latest iPhone 17 was not included in the promo. A similar sale with discounts up to 800 yuan took place less than a month earlier. Ivan Lam, senior analyst at Counterpoint, explained: "Apple's price cuts are a strategic move to capitalize on the holiday season and defend market share."

With advances in AI development and savvy marketing in China, Apple is creating new growth opportunities. Such news typically spurs trading interest in the stock. Traders can consider both long?term investments and active trading around newsflow and corporate reports.

Investors should note that cutting?edge AI offerings and aggressive pricing in China can support a sustained positive trend for Apple shares and affect other tech giants competing in the AI race.

BitMine ups the stakes in Ethereum: institutional giant accelerates staking amid historic network milestones

On Thursday, one of the largest publicly traded companies managing digital assets in the Ethereum ecosystem, BitMine Immersion Technologies led by Tom Lee, announced a major new investment in Ethereum: the company added another 171,264 ETH to its positions, worth roughly $503 million.

According to blockchain data tracked by analytics platform Lookonchain, the operation brought BitMine's total staked ETH to a record 1.9 million ETH, equivalent to about $5.7 billion.

These moves come against the backdrop of a landmark event for the Ethereum ecosystem: for the first time ever, the share of staked tokens in the network surpassed 30%. More than 36 million ETH are now locked in validator contracts, strengthening the blockchain's resilience and demonstrating high confidence in the proof?of?stake mechanism. BitMine now reportedly controls over 4 million ETH — nearly 3.5% of all circulating Ethereum tokens. The company ambitiously says it plans to raise its share to 5%.

Tom Lee told shareholders in January 2026: "The company expects to generate more than $400 million in annual revenue from ETH staking alone from internal reserves." With a market capitalization above $13 billion, BitMine retains its position as the largest institutional holder of Ethereum among public companies.

Lee noted earlier this month: "BitMine has staked more ETH than any other organization in the world." At full scale, annual staking commissions are estimated to reach $374 million at an average yield of about 2.8%.

Interestingly, since Tom Lee was appointed chairman in June 2025, BitMine has shifted from a classic mining model to a treasury strategy focused on Ethereum assets. The company is now developing a validator?network platform called Made in America Validator Network (MAVAN) — expected to launch in early 2026.

Active staking accumulation is taking place despite an overall downturn in the crypto market. Ethereum's price has fallen below $3,000, though it climbed to about $3,350 in January and remains roughly 40% below its all?time high of $4,946 (August 2025). Even BitMine's shares have felt market pressure, trading around $28–29 after sliding from levels above $30 earlier in the month.

Reaching the 30% threshold of staked ETH is widely viewed by analysts as a signal of institutional confidence in the network's future. "We have officially reached a historic milestone. Ethereum is no longer just a volatile asset; it is becoming the most secure digital infrastructure in the world," Altcoin Vector said in a report.

BitMine's staking expansion coincides with a strategic shift in the market: crypto communities and institutional investors are showing long?term faith in Ethereum's potential as an infrastructure for the future. Despite price corrections, staking is hitting historic highs and institutional capital continues to accumulate positions.

The current rise in institutional participation and staking milestones may create new entry points for traders. Investors may consider direct ETH purchases followed by staking to earn passive income, as well as trading short?term price moves amid changing market dynamics. Additionally, BMNR shares could interest those who believe in the company's long?term strategy and leadership in the Ethereum market.

Trading in Ethereum, staking and shares of leading crypto companies, including BitMine, is available to InstaForex clients. To get started, open a trading account with InstaForex. To stay up to date and react quickly to market changes, download the InstaForex mobile app for timely analytics and instant execution wherever you are.

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