Six More Months Of USD Strength, Follow The Trend – Hug

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Peter Hug joins Kitco News to talk about gold prices as the metal backs off from its moderate early-session gains on Wednesday. “We got the bounce we expected on the double bottom of $1,185 [last Sunday],” Hug says. “But again, it’s very early in this to determine whether this is a reversal here or a bounce.” He also comments on the European Central Bank’s plans to implement a quantitative easing program in the region. “I think it is [Draghi’s] game plan to devalue the euro and get it down as much as possible,” Hug says. He adds that because of this strategy, he still sees the trend over the next six months working in favor of a stronger U.S dollar. Kitco News, October 8, 2014.

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