U.S. Bank: 'central-bank policies should continue to support metals'
(Kitco News) - Accommodative central-bank monetary policy is supportive for gold and industrial metals such as copper, said US Bank Wealth Management. Comex August gold hit a one-month high of $1,779 an ounce on Monday, while July copper has been as high as $2.6695 so far Tuesday, threatening its June 10 peak of $2.70 that was the red metal’s most muscular level since January. "Industrial metals and gold rose slightly last week," U.S. Bank said in a research note. "Gold remains in a bullish trend, and copper has broken out into a new bull trend. The potential for inflation resulting from central-bank policies should continue to support metals, which maintain their value as the value of money decreases."