Kitco News, Released on 12/11/20 Gold has bounced back from its support level of the low $1,800s, and is on track to touch $1,920 by Christmas time, said Peter Hug, global trading director of Kitco News. 0:00 – Fiscal stimulus 5:06 – Equities 7:06 – Gold’s macro drivers 9:28 – Gold price levels to watch […]
Kitco News, Released on 11/20/20 (Recorded on 11/19/20) Once industrial demand picks up, more tailwinds for silver will push the metal closer to the $35 to $40 an ounce range next year, said Peter Hug, global trading director of Kitco Metals. Peter Hug has been involved in precious metals since 1974. He began gaining first-hand […]
Kitco News, Released on 11/13/20 Peter Hug, global trading director of Kitco Metals, remains constructive on gold and silver long-term, and should the economy improve next year, silver could trade in the $40 range. “On my macro perspective that gold is going to do extremely well in 2021, I think silver at $24 will look […]
Kitco News, Released on 10/23/20 The stimulus will happen no matter who wins and that is good for metals and gold, said Peter Hug, Kitco’s head of the precious metal division. Hug spoke to Kitco News Thursday as Republican and Democrat leadership continued negotiating a COVID-19 stimulus package in excess of $2 trillion. Some Republican […]
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? […]
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 […]
Kitco News, Released on 8/28/20 (Recorded on 8/27/20) Despite Thursday’s precious metal sell-off, conditions have not changed for gold and silver, said Peter Hug, division head for precious metals at Kitco. Speaking to Kitco News on Thursday, Hug said conditions are positive for gold due to the amount of fiscal support provided by banks. “The […]
Kitco News, Released on 8/20/20 (Recorded on 8/19/20) Regarding the sharp sell off on Wednesday, Hug lays the blame on lots of long positions that needed lightening ahead of the Fed announcement. “They were just making sure that if the Fed said something different…they would be able to take some money off the table. And […]
