Oil prices took a hit Wednesday, falling close to a one-year low to levels last seen in August 2016. What could this mean for the precious metals, particularly silver? According to Kitco’s global trading director Peter Hug, silver may be in for some trouble if this oil slump continues. “There is some concern that industrial demand for silver will also drop,” he said. “I think that’s why you’re seeing the gold-to-silver ratio widening out to where it is today.”
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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