Gold’s Momentum: "For Pete’s Sake!" w/Peter Hug of Kitco.com

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Kitco News tries to answer whether gold has lost its momentum with Peter Hug of Kitco Metals on today’s edition of “For Pete’s Sake.” According to Hug, if stock markets hold or go higher, ETF redemptions will continue. The reduced physical demand in the market suggests softness in the short term for gold. He goes on to say that the $1,362 support level should hold through the rest of the week. Until Hug sees momentum and increased physical demand, he said investors should expect seeing the $1,362 mark before gold hits $1,400. Kitco News, May 28, 2013.

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