Jan 22, 2018 Guest(s): Peter Hug Global Trading Director, Kitco Metals
Gold has been on an upward slope since the Fed increase, driven by big managers' money rushing into the safe haven as doubts linger around equities, says Peter Hug, director of Global Trading at Kitco Metals."This year, right after the Fed rate increase we've had an upward slope. If we extrapolate out what happened in the past two years, I think we can hit a $1,425, assuming the $1,365 level gets taken out," Hug told Kitco News in the sidelines of the Vancouver Resource Investment Conference.Hug said the Fed has already made their move and may not hike three to four times this year, given the fragility of equity markets with political turmoil underway.