Opinion with Peter Hug
Quiet Trade As Metals Try To Consolidate
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
(Kitco News) - Metals are trying to consolidate at these levels after the strong bounce following the Fed rate increase. There is some concern, as the G-20 meeting begins, that the U.S. may be somewhat aggressive in its stance of America first and potential protectionist measures. Would not expect gold to surprise today, with the range likely to be contained between $1,220- $1,235. The elections in Holland quelled fears that the growing populist trend is accelerating, which took some of the safe-haven edge away from gold, but on the other hand a weaker tone to the dollar has supported continued buying.