What's Next For Gold After Trump’s Victory?
Safe-haven gold was losing ground to a big rebound in the U.S. stock market after its strong overnight losses. ‘I wish I could tell you what happens next, but the markets need some time to reflect on the phrase, President Trump,’ said Kitco Metal’s global trading director, Peter Hug on Wednesday. Throughout the night, markets saw extreme volatility across the board. Gold moved up some $80, from its low print to its high, and the stock market was at one point 800 points limit down, as it became clear that Democratic candidate Hillary Clinton was losing, Hug explained. The focus is now back on the expected Federal Reserve rate hike in December. Hug said that this may put the Fed’s rate decision on hold. ‘Just too much to digest and metals should benefit,’ he said. (show less)
Safe-haven gold was losing ground to a big rebound in the U.S. stock market after its strong overnight losses. ‘I wish I could tell you what happens next, but the markets need some time to reflect on the phrase, President Trump,’ said Kitco Metal’s global trading director, Peter Hug on Wednesday. Throughout the night, markets saw extreme volatility across the board. Gold moved up some $80, from its low print to its high, and the stock market was at one point 800 ... (read more)
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.Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.
