CNBC Stock Blog

Published: Thursday, 2 Jul 2009 | 2:10 PM ET

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A weak U.S. dollar will make for gains in precious metals and global stock markets, says Chris Zwermann at Zwermann Financial.

"I've come to the conclusion that the dollar is leading the way to a lot of other markets," he said.

"Gold made quite a nice retracement at $912," he said. "Now, we're on our way back up — and the target is $1,040."

He told CNBC that the FTSE index could rise to 5,500 if the British pound/U.S. dollar pair moves from its current price of $1.6425 — to a specific price target. Watch the full interview to see his sterling/greenback target.

• Gold, Silver, Platinum Prices Now

• Dollar vs Pound, Euro, Yen Today

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Disclosures:

Disclosure information was not available for Zwermann or his company.

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