Ignore Friday’s Gold Drop – "For Pete’s Sake!" w/ Peter Hug of Kitco.com

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Kitco News talks to Peter Hug about the recent gold and silver price drop as well as the effects the Lonmin Mine shooting has had on PGMs. According to Hug, we need to keep an eye on the Nikkei and the Japanese yen as there is a direct correlation with gold prices. If equity markets begin to feel pressure and the yen strengthens, Hug says this could push gold to a support level of $1425. With autosales up and unrest in South Africa, Hug says PGMs could be a solid medium term investment. Finally, Hug says that upcoming job numbers shouldn’t affect the markets too much unless really skewed to any side. Kitco News, June 3, 2013.

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