The dollar dropped to its lowest value since May 2018 on Thursday, July 30 while gold, silver, and Bitcoin are all rallying.

The dollar's trade-weighted index — a metric which compares the dollar to other major fiat currencies — dropped to $93.04, the lowest it has been in two years, data from TradingView shows.

Meanwhile gold's value hit an all-time-high of $1,980 on Tuesday, July 28. Silver has also been performing well and grew in value by 30% in July. 

Bitcoin has also been performing well since its latest breach of the $10,000 trading level after being trapped for months in the upper $9,000 region. Some expect for the dollar's value to continue to weaken if the government prints money to support COVID-19 stimulus programs which could lead to inflation.

By Emily Mason