As markets await the release of the minutes for the July Federal Open
Market Committee (FOMC) meeting, Kitco’s global trading director Peter
Hug tells Kitco News he doesn’t expect the central bank to make a move
on rates in September. “I’ve been in the camp that the Fed may not move
until 2016,” he says. “I’m sort of begging Yellen to raise the rate in
September and get it out of the way. She’s got herself in a corner.”
Looking at gold, Hug seems optimistic about the metal, stating that he’s
’surprised’ with the current consolidation levels. “Every time gold
tries to break down below $1,110 there seems to be buying interest. So I
am constructive gold at these levels.” Hug shares the same sentiment
towards silver, although he adds that it may be a little riskier right
now. “Silver is still tentatively a bit of a risk here but at a 75:1
ratio…I think silver is a good buy at the 14.80 level.” Tune in now to
find out where he sees the gold and silver prices headed for the rest of
August. Kitco News, August 19, 2015.
No comments:
Post a Comment