Gold Prices Notch Small Gain But Watch For Volatility Sunday Night - Hug

After dropping to their lowest level in a week, gold prices notched a small gain on Thursday. June gold added on 40 cents to settle at $1,283.80 an ounce. Peter Hug, global trading director for Kitco Metals, said he is expecting gold to trend firmer into the weekend. He noted that volatility could surface at the Asian open on Sunday night as investors digest the outcome of the first round of France’s election. "[T]raders are reluctant to short the market ahead of this weekend’s first round of French elections,” Hug said. He also shared that physical gold buying has been prominent in Asia as investors remain wary of geopolitical risks with North Korea while North American demand remains anemic. (show less)

After dropping to their lowest level in a week, gold prices notched a small gain on Thursday. June gold added on 40 cents to settle at $1,283.80 an ounce. Peter Hug, global trading director for Kitco Metals, said he is expecting gold to trend firmer into the weekend. He noted that volatility could surface at the Asian open on Sunday night as investors digest the outcome of the first round of France’s election. "[T]raders are reluctant to short the market ahead of ... (read more)

 
 
For Pete's Sake!

For Pete's Sake!
From the latest market-making swings to the forward-looking important events that could impact the markets, For Pete's Sake with Peter Hug breaks down the news. He reviews the latest information coming out of North America, Europe and Asia to help you decide how to play the week. Tune in every week to get his key price ranges for gold and find out why he hates to talk about the Fed.

 

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