Swiss Baosheng: Precious metal prices are not only due to a weak US dollar.

Carsten Menke, head of research at Switzerland's Julius Baer, said that the rise in precious metals is not just about the fall in the US dollar. He said, "This reflects increasing concerns about the political power games played by US President Trump at home and abroad, and is therefore centered around the potential decline in the US dollar." Although "currency devaluation trades" seem to be taking place in the precious metals market again, Julius Baer has not seen any relevant evidence in other markets, especially in the much larger bond market. He added that driving the trends in gold and silver prices does not require a lot of capital. Julius Baer remains bullish on gold and neutral on silver.