Eyes on PGMs ▸ Gold to Break $1700 ▸ U.S. Mint Halts 2013 Silver Eagle Sales: "For Pete’s Sake!"

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With prices rising, we’re talking gold, silver and PGMs on today’s “For Pete’s Sake!” featuring Peter Hug of Kitco Metals. Beginning w/ PGMs, Hug reminds viewers that platinum, and even more so palladium, are sensitive to supply-demand type issues; Hug caught the platinum trade at $1550, and was admittedly “pretty aggressive” at that level. He has lightened up in the high 1690 range, though, and feels that platinum may be ahead of itself. As far as palladium’s concerned, Hug urges that if you’re bullish on economy or global recovery, palladium anywhere under $700 is a great buy for the remainder of 2013. When prompted on whether he invests in physical or otherwise, Hug explains that as a trader, he’s solely out for capital gains and thus looking for the most inexpensive way of entering a trade, which remains the futures market. Moving onto silver, we discuss last week’s news that the U.S. Mint has temporarily halted sales of its 2013 Silver American Eagle bullion coins, and will resume at the end of January once inventory is restocked.

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