Gold Hits 15-mth High; Expect More Dollar Weakness Says Peter Hug

Precious metals have been among the best performing assets this year and according to Kitco’s Global Trading Director Peter Hug, gold and silver may have more room to grow. The yellow metal has gained momentum on a weaker U.S. dollar, and Hug says he sees more weakness for the greenback ahead. ‘This precious metals rally over the past couple of weeks has been premised on dollar weakness, specifically dollar weakness to the yen,’ he told Daniela Cambone Monday. ‘Right now, it certainly looks to me like the dollar will continue to weaken in the short term and that’s been one of the catalysts for the move up in gold.’ Gold prices hit a 15-month high Monday, with June Comex gold futures breaching above the $1,300 level before falling back to current levels around $1,296.30 an ounce.  (show less)

Precious metals have been among the best performing assets this year and according to Kitco’s Global Trading Director Peter Hug, gold and silver may have more room to grow. The yellow metal has gained momentum on a weaker U.S. dollar, and Hug says he sees more weakness for the greenback ahead. ‘This precious metals rally over the past couple of weeks has been premised on dollar weakness, specifically dollar weakness to the yen,’ he told Daniela Cambone Monday. ... (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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