The chief executive of global financial advisory firm deVere Group has warned that a Sell America investment strategy will dominate market behavior throughout 2026 as institutional confidence in United States governance and policy direction weakens.
Nigel Green issued the warning Wednesday as multiple developments combined to force traders to reconsider their positions in American assets. Gold reached record levels above 4,600 dollars per ounce, the United States dollar weakened broadly, and equity benchmarks showed increasing volatility.
The assessment arrives amid what Green describes as simultaneous stress points affecting the institutional framework that underpins confidence in American investments. Markets are responding to legal, monetary, geopolitical and trade developments that are fundamentally altering how investors price risk and potential returns.
The Department of Justice (DOJ) served the Federal Reserve with grand jury subpoenas on January 10, threatening criminal indictments against Fed Chairman Jerome Powell. The subpoenas officially relate to Powell’s congressional testimony about the central bank’s headquarters renovation project, though Powell characterized the action as pressure intended to influence monetary policy.
In a video statement released January 12, Powell said the threat of criminal charges stems from the Federal Reserve setting interest rates based on economic assessment rather than presidential preference. His term as Fed chairman expires in May, with President Donald Trump already considering replacement candidates.
Financial markets reacted swiftly to the institutional confrontation. Gold surged more than 64 percent in 2025, its best performance since 1979, while silver logged its strongest year on record with a 146.8 percent gain. This week gold breached the 4,600 dollar threshold and silver reached new highs, as traders increased allocations to traditional hedges against uncertainty.
The United States dollar index weakened broadly against other major currencies following the subpoena announcement. Stock futures experienced significant swings as investors reassessed sovereign risk premiums tied to monetary policy credibility.
Green explains that pressure on the independence of the world’s largest central bank alters expectations for interest rates, inflation and investor returns across asset classes. Several Republican senators, including Thom Tillis of North Carolina, condemned the investigation and threatened to block any Trump nominations to the Fed until the matter resolves.
The monetary confidence shock intersected with geopolitical developments that broadened global risk considerations. The United States launched Operation Absolute Resolve on January 3, a military intervention in Venezuela that resulted in the capture of President Nicolás Maduro and his wife Cilia Flores. American special forces transported both individuals to the United States to face narco-terrorism and drug trafficking charges.
The Venezuelan government condemned the operation as military aggression and a violation of national sovereignty. President Trump announced that the United States is going to run the country until a safe, proper transition of power occurs. United Nations Secretary General António Guterres expressed concern that rules of international law were not respected regarding the military action.
Escalating tension around Iran has added another layer of uncertainty for energy markets and global risk assets. Trump administration officials threatened 25 percent tariffs on countries trading with Iran, risking renewed conflict with Beijing, Tehran’s top trading partner. Domestic unrest in Iran and rising security risks around key shipping routes compound investor concerns.
Green notes that geopolitical assertiveness introduces complex sovereign risk dynamics that translate into global allocation changes. Innovation in military or strategic ventures cannot be separated from capital allocation decisions, he explains.
Discussions in Washington about Greenland’s strategic importance are increasing tensions with European allies. While not a new issue, the prominence of the topic in foreign policy debates has underscored uncertainty in transatlantic economic cooperation. Green comments that geopolitical shifts matter when viewed through the lens of trade, resource security and diplomatic stability.
Legal uncertainty around United States trade policy is influencing market decisions. The Supreme Court on Wednesday declined to rule on the legality of sweeping tariffs imposed in 2025, leaving traders and corporations in extended uncertainty about cross-border commerce and corporate planning.
Green explains that legal silence on trade authority affects both confidence in global agreements and the cost of doing business internationally. When rules governing trade face legal challenge, it prompts reassessment of long-term exposure to American markets.
Earnings trends in early 2026 are reinforcing portfolio reallocations. While the United States remains a critical engine of global earnings, some major sectors including banking have reported performance falling short relative to international peers, particularly in regions where growth momentum is improving off more attractive valuations.
Market data show that some major American averages have experienced back-to-back declines recently as traders position ahead of key earnings releases. Green notes that the link between earnings and capital allocation has returned as a driver of prices after key corporations came in below expectations.
Green concludes that the confluence of these forces is no longer peripheral but central to how global portfolios are being structured. Precious metals rallying to records and the dollar weakening are symptomatic of broader risk repricing. Meanwhile, equities are viewed in the context of policy risk, legal ambiguity and geopolitical strategy rather than in isolation.
The deVere chief executive emphasizes that markets are making disciplined adjustments rather than abandoning the American economy entirely. He expects the pricing of that balance will help define global portfolio allocation through the rest of 2026.
Investment bank Goldman Sachs projected gold prices could reach 4,900 dollars per ounce during 2026. Commerzbank raised its year-end forecast to 4,900 dollars. HSBC suggested trading momentum could carry prices to 5,000 dollars in the first half of the year, though volatility may remain elevated with more frequent pullbacks.
The Federal Reserve is expected to hold rates steady at its January 27-28 meeting after cutting them by 75 basis points in 2025. Markets currently anticipate two additional rate cuts later in the year, boosting appetite for non-yielding assets like gold. Lower interest rates typically favor bullion as they reduce the opportunity cost of holding assets that generate no income.
deVere Group, headquartered in the United Arab Emirates, operates as an independent financial advisory organization with operations across multiple continents. The firm provides wealth management and advisory services to international clients.
