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On this Thursday we have several news articles on gold—a CIO told investors on Bloomberg TV that they should stick with gold for awhile…even copper is beginning to garner attention now—could it break through the $3/lbs glass ceiling? And Thailand’s currency—the baht—is growing stronger but the Bank of Thailand wants to sever the link between gold trading and the baht as a way to curb the currency’s growth without making the U.S. angry.

Let’s dig in…

Commentary
This CIO Recommends Staying with Precious Metals
He is the Chief Investment Office of Guggenheim Global, and he thinks there’s a lot more upside ahead in precious metals. Scott Minerd is his name, and he sat down with Bloomberg’s Caroline Hyde and Tom Keene on Bloomberg Markets for this interview:
Go to Bloomberg TV ([link removed])
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Price
Will Copper Rise to $3 Before Precious Metals Cool Down?
Gold and silver have been having all the fun recently with their surging prices and record highs…the question remains: will copper also surpass it’s two year record of $3 per lbs.? Copper is showing signs of maturing into its own new level of growth—reaching its highest since June 2018. Investors took notice. Since the coronavirus pandemic disrupted the global economy, Copper has been going up—a net 30% in four straight months of price increases. Compare that to gold’s performance of 25% over five months. And there’s still that $3 barrier that copper has not yet taken out. This is especially so if the…
READ MORE ([link removed])

Price
Gold Hits Pause Button While Markets Wait for Fed Policy Confirmation
Gold eased on Wednesday as investors booked profits from a record run and caution set in while investors awaited the end of a U.S. Federal Reserve meeting expected to reinforce dovish policy to aid a virus-hit economy. “When you’re sitting on a very large profit, people want to take that,” independent analyst Ross Norman said, adding the market was in a holding pattern ahead of the Fed’s policy statement due at 2 pm EDT. Investors are also monitoring a political deadlock in the U.S. Congress over a $1 trillion aid plan, writes Eileen Soreng on the UK Reuters news site. KEEP READING ([link removed])
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International
Thailand Wants to Curb Baht and Keep the U.S. Happy
The Bank of Thailand has plans to sever the link between gold trading and the baht (Thailand’s basic monetary unit) may be a way to limit the currency’s gains without incurring the wrath of the U.S. over foreign-exchange manipulation. The baht did fall at the beginning of the coronavirus pandemic but has since grown stronger as gold surges. The precious metals spike has many Thais dropping their holdings, which is forcing local shops to sell in the international market. The step of exchanging dollars into baht as part of the process is one factor that’s helping Thai currency gain about 5% since its March low. The baht has been the best-performing Asian currency over the past four years, appreciating about…

READ MORE ([link removed])

Price
Gold Logs Record Close, Up a Ninth Straight Session
Gold futures tallied a ninth gain in a row on Wednesday to settle at another record, then moved even higher after the Federal Open Market Committee reiterated plans to keep interest rates near zero until the economy sees further improvement. After two days of meetings, the Fed noted economic activity and jobs “have picked up somewhat in recent months” while pledging again to flex its full muscle to support further improvement. “The Fed came out with no surprises, and basically told the market it would be business as usual going forward—or unusual as the case may be,” said Brien Lundin, editor of Gold Newsletter. “With this one, small element of uncertainty removed, gold responded well and resumed its rally.” READ MORE
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Commentary
Report: Precious Metals Surge Has a Driver Behind It – Inflation Speculation
Larry McDonald is the Editor of the Bear Traps Report. He recently gave a report on silver, other precious metals, and U.S. equities. Watch THIS 4:41 VIDEO ([link removed])
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Thanks,
Gold Silver Central

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