John Tucker

The dollar suffered its deepest one-day drop since last year's tariff rollout after the president said he didn't think the currency had weakened excessively.

We asked former Dallas Fed President Robert Kaplan about the assertion a weak dollar makes U.S.

goods more attractive.

exports.

President Trump seeming indifference to the dollar's drop is seen by some as another signal to sell the currency and accelerate the quiet quitting of assets like U.S.

Treasuries.

And this dollar debasement pushing gold to a record high.

Dollar DXY down a tenth of a percent this morning.

Gold at 53.12 an ounce.

In New York, I'm John Tucker, Bloomberg Radio.

Investors seem to be running for cover, turning to gold and silver.

Gold smashing through $5,000 an ounce.

Right now, $51.21 an ounce.

It has pushed even higher, extending that breakneck rally.

Silver also spiked earlier to a record above $110 an ounce, gaining for a third day.

Erratic policymaking and attacks in the Federal Reserve, combined with increasing public debt, all fueling the surge.

Call it the debasement trade.

As one portfolio manager puts it, gold is the inverse of confidence.

And the dollar continues to weaken.

There are signs the U.S.