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Let’s Call It for 2013

Thursday January 02, 2014 08:36

The markets find themselves at levels that are unchanged from the closing prints of the week before Christmas. The “movements” since that close were nothing but position squaring ahead of the New Year. But the bottom line is we find ourselves at the lows for 2013 as we begin 2014. Many of the fundamental factors that were drivers of the gold price over the past few years have mitigated substantially and taken the “fear” premium down significantly. But the risks ahead, certainly do not, in my mind, create a “Pollyanna” attitude. Risks of capital displacement, political gridlock in Washington, a sudden and severe stock market correction, geopolitical issues with Turkey , Iran , North Korea, all suggest a volatile year ahead for the metals.

I wish everyone a safe, healthy and prosperous 2014.

By Peter Hug
Global Trading Director
Kitco Metals Inc.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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