"So Far So Good" For Gold, ECB’s Next Move On Peter Hug’s Radar

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Gold’s strength continues this week hitting an 11-week high Tuesday and Peter Hug says the market still remains somewhat skeptical. “There is some fear back in this market,” he says, adding that some capital leaving the equity markets is coming into the bond and precious metals markets. “I think the market is still somewhat skeptical on the strength of the metals but we’ve been fairly consistent over the past couple of weeks.” Hug also comments on the uncertainty in Europe and says he is not focused so much on the Greek vote but rather what ECB president Mario Draghi will do at the central banks next meeting on Jan. 22. “I suspect that he may not do much other than allow the euro to weaken.” Tune in now to find out why Hug thinks it may be premature to call a bottom for gold and find out why he thinks the Fed may need to hold off to 2016 to hike rates. Kitco News, January 13, 2014.

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