Kitco News, Released on 10/9/20

Manipulation of the markets through spoofing distorts prices on a short-term basis, but has very little impact on the long-term trends, said Peter Hug, global trading director of Kitco Metals.

“It does distort pricing on a short-term basis, but does it materially hurt a retail investor on a longer trend? If the market is on a downtrend, it will stay in that downtrend. If the market is in an uptrend, it will stay in that uptrend,” he said.

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.

  gold, manipulation, Peter Hug, silver, spoofing