Rising yields have not changed gold's long-term bull course - Peter Hug

By Kitco News / February 17, 2021 / www.kitco.com / Article Link

Feb 19, 2021 Guest(s): Peter Hug Global Trading Director, Kitco Metals

Rising yields and a stronger dollar from earlier this week have put pressure on gold, but the long-term macroeconomic fundamentals have not changed for the metal's bullish outlook, said Peter Hug, global trading director, who added that we are still in the early innings of a bull cycle.
"I think gold has been mirroring the dollar and the dollar has been strengthening in the beginning of this week on the 10-year [yield] surging. Last Friday when we spoke the 10-year was trading around 1.12%, 1.14%, it's now at 1.32%. So the yields on the 10-year have been going up this week and that has moved some assets into the dollar," Hug said.

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