...are setting cyclical records.  Below is a 5-year chart.  The previous top of the index was 166.60 in March of 2011.  Quite obviously this means that the current index will have to rise three times the present value to breach the previous high.  In the history of such cycles, blowouts to new levels far exceed the previous ones exponentially.  So, take 166.60 and multiply by 3, 4, or even 10 as being within the realm of probability for a new top in this cycle.  

The fundamentals behind the gold market at this time, however, are dramatically different than in times past.  The driver now is monetary depreciation without much other evidence of inflation.  That is, and for the time being, we have stable or falling interest rates while fiat money is flooding the world, keeping interest rates low.

In other metals markets, COVID-related supply disruptions are the only thing driving the copper market at present.  When we get past that, copper and other base metals prices are likely to fall.  That should remain the case until inflation takes hold generally, if it does - we are far from there.

As a friend used to write, "Got Gold?"  

With thanks to Yahoo!