Gold Better in US Dollar or Euro?

The US dollar and gold are under pressure while the euro rallies this Tuesday and Peter Hug is on Kitco News to talk about what’s happening. “I think [Europe] is showing some signs of strength but nowhere near the strength I think that they’re looking for,” Hug says. “I’d be very surprised if [ECB President Mario] Draghi did anything with interest rates [this Thursday].” With regards to Federal Reserve Chair, Janet Yellen’s testimony on Thursday, Hug doesn’t expect much to happen. He adds that he expects her to maintain a “wait and see” attitude. Hug also talks about the difference in trading gold in different currencies and the risks involved with these types of trades. Tune in for more from Peter Hug and his view on gold market for the rest of this week. Kitco News, May 6, 2014.

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