Gold prices have hit a critical crossroads, with macroeconomic forces poised to pull the yellow metal in either direction, this according to Peter Hug, Global Trading Director of Kitco Metals.
"I think in the short term, gold is a difficult metal to call at these levels now. I don't think the Fed is going to drop rates in the short term but I do think that there could be other risks to the Fed policy and that would obviously be if the U.S. stock market started to sell off," Hug told Kitco News.
Peter Hug has been involved in precious metals since 1974. He began gaining first-hand investment industry experience at Deak-Perera. He served as SVP at Guardian Trust Company, which became one of the largest international trading houses for precious metals. He developed the first precious metals certificate program and the first margin trading accounts for metals on the cash market. Peter has acquired extensive experience in the wholesale markets and international asset diversification. A frequent speaker at precious metals conferences and in the financial media, he is one of the handful of experts who have succeeded through multiple bull and bear cycles on the strength and skills honed during the dramatic fluctuations of the 1980s. As the Director of Kitco's Precious Metals Division, Peter develops newer and better investment options for Kitco customers.