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 10/8/20 Both the precious metals and stock markets have seen a volatile week. Taking cues from the White House’s hints on how much stimulus could be introduced before the presidential election, prices have seen large moves in both directions in a very short amount of time. On a medium to longer-term […]
Financial Survival Network, Released on 9/28/20 There’s an increasing level of fear both in the US and worldwide. The Fed was looking for the administration to get another fiscal package to help move things forward. Economic data has been relatively benign. In Europe there’s fear of another Covid wave. Peter doesn’t expect the economy to […]
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 9/3/20 With holidays and families preparing for the fall, there are not that many traders, which leads to all sorts of volatility, said Peter Hug, head of Kitco’s precious metal division. Hug spoke to Kitco News on Wednesday when October gold futures traded down $35.40 to $1,935.40. “During the last week […]
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 […]
Kitco News, Released on 8/14/20 (Recorded on 8/12/20) *This interview was recorded on Wednesday In an interview on Wednesday, Hug noted that precious metals prices were over-extended after both metals had phenomenal runs. In the past weeks, gold hit a record high and silver achieved a multi-year high. “Silver ran up to $30. Gold ran […]
