Fundamental factors are still in place to push gold prices up, but momentum will not be sustained without price corrections along the way, this according to Peter Hug, global trading director of Kitco Metals.
“If you use the argument based on our global debt, [gold bulls are] right, gold should be higher than where it is at $1,500 and I think the day will come when gold will surpass the 2011 high,” Hug told Kitco News.
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