Has Gold Lost Its Safe-Haven Allure? - Peter Hug

Kitco News speaks with Peter Hug following yesterday’s big price drop in gold to see how he sees the metal set up for the rest of the week. “The metals look heavy,” he says, adding that if issues between Greece and the European Union are resolved, gold could test $1,197. “And that, in my opinion, absolutely needs to hold. If we lose $1,197, I think it brings in the prospect of seeing the lows of 2014…which would be around the $1,130 level.” Looking to the Chinese New Year, Hug says the demand from China could have a negative influence on the metals. However, Hug remains confident for gold prices in the event that Greece leaves the EU and the potential ripple effects that would have with other struggling nations in the region. “So, all of those things will create enough consternation to push gold up and it could be significant,” he says. “It could be in the magnitude of $100 or $200 if these Greece-EU talks fall apart.” Kitco News, February 18, 2015. (show less)

Kitco News speaks with Peter Hug following yesterday’s big price drop in gold to see how he sees the metal set up for the rest of the week. “The metals look heavy,” he says, adding that if issues between Greece and the European Union are resolved, gold could test $1,197. “And that, in my opinion, absolutely needs to hold. If we lose $1,197, I think it brings in the prospect of seeing the lows of 2014…which would be around the $1,130 level.” Looking to the Chinese ... (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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