Key for Gold to Hold $1324 ~ Peter Hug of Kitco

Key for Gold to Hold $1324 - "For Pete's Sake" w/Peter Hug of Kitco.com



 Kitco Metals' Peter Hug talks about gold's 4-week high, the US dollar and Asian markets on this edition of "For Pete's Sake."According to Hug, the $1,300 break on the upside may be a buy signal. "When you see resistance levels and difficulty getting through those resistance levels, which we saw last week at $1,300, the trade is a short. Vice versa, when it breaks up through resistance levels, the trade is a long," he added. However, despite the break through $1,300, Hug does say he is not seeing the momentum just yet. However, the continuous monetary stimulation coming out of the US, Europe, Japan and China coupled with physical demand in Asia and ETF outflows slowing down are indications that it may be a good buy, Hug added. Tune in now to hear his take on gold and silver prices. Kitco News, July 22, 2013.

Gold Bounce Back - "For Pete's Sake" with Peter Hug of Kitco.com

Kitco News speaks with Kitco Metals' Peter Hug about gold and silver prices and what he makes of the current market movements. "It is going to be a difficult week to trade," Hug told Kitco News' Daniela Cambone. Hug talks about the Fed, tapering and shares his support and resistance levels for gold. Kitco News, July 1, 2013.

Gold: A Case of Overreaction? - "For Pete's Sake" w/Peter Hug of Kitco.com

Kitco News talks with Peter Hug about gold at the IPMI Conference. Kitco News, June 24, 2013.

Gold & Silver Market still in stagnation for the summer holidays

Gold and Silver Market still in stagnation for the summer holidays not much happening until the labor day says Peter Hug . Gold is a precious metal that has been held as valuable for thousands of years. Gold was once used as money for trade. The more gold you had the richer you were. It never has in known history lost 100% of its value. The only problem with gold is that it is not readily negotiable. If there is a famine, who will take your gold in trade for food? Not many would if they and you are hungry. A barrel of wheat of might cost you a pound of gold. See the relationship. Value only if time is right.Gold had a correction in 08 but it only lasted for a couple of months and then started to climb back up again. The correction only hurt the people who panicked and sold at that time.Silver is part precious metal, and part industrial metal. So it's 50:50. Unlike gold which is 100% precious metal. Since silver is partly industrial metal, its demand will also depend on the industry. In addition, no central bank buy silver, except gold. Silver may go up during hyperinflation but so will other metals. But I recommend gold because it is pure money. I just hear the is 800 million oz silver for sale and only out of that is 300 million oz for sale as an investment i guess we just need 1 million people to buy 300oz a year to wipe that out we need 1 million people to invest in 300oz silver each year for few years to wipe out silver of the earth there is around 8 years silver left it should be extinct around 2021 unless silver prices go up from $27 to atleast $1000 an oz then they can start recycle the used up silver