Kitco News, Released on 9/17/20

Gold and silver prices have been trading rangebound, but the price patterns suggest that the metals are currently consolidating and are ready to see the next move, said Peter Hug, global trading director of Kitco Metals.

“The fact that people are not selling into a market that isn’t as frenetic as it was a month or six weeks ago indicates to me that this market is setting up for the next leg higher once we get through this consolidation phase,” Hug told Kitco News on Wednesday.

Peter Hug has been involved in precious metals since 1974. He began gaining first-hand investment industry experience at Deak-Perera. He served as SVP at Guardian Trust Company, which became one of the largest international trading houses for precious metals. He developed the first precious metals certificate program and the first margin trading accounts for metals on the cash market. Peter has acquired extensive experience in the wholesale markets and international asset diversification. A frequent speaker at precious metals conferences and in the financial media, he is one of the handful of experts who have succeeded through multiple bull and bear cycles on the strength and skills honed during the dramatic fluctuations of the 1980s. As the Director of Kitco’s Precious Metals Division, Peter develops newer and better investment options for Kitco customers.

  economy, Fed, gold, Peter Hug, silver