For Pete’s Sake: ECB will have more effect on metals than FOMC April 30, 2013

[youtube w9jjpDtVKzw]

With the results of the Federal Open Market Committee and European Central Bank meetings coming up this week, we look at its effects on monetary policies as well as the prices of gold, silver, and PGMs. Peter Hug of Kitco Metals only expects policy changes in the US to start taking place by the first quarter of 2014. However, the ECB meeting on Thursday morning will have a more dramatic effect on metal prices, as he predicts an interest rate drop of 25 basis points in the Eurozone. According to Peter, the strong performance of PGMs is contingent on negotiations with South African miners as supplies are unpredictable with the threats of strike. He touches upon profitable trading strategies with platinum and palladium while focusing on rhodium as a long term investment yielding the highest returns among precious metals. We end by examining the struggling gold market as it looks to gain momentum and its impact on silver in this edition of “For Pete’s Sake!”. Kitco News, April 30, 2013.

As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and © Kitco.