Gold Price Acting Difficult, But Summer May Bring Heat

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  • Published on May 22, 2019
  • Investors may be in for “fireworks” this summer if precious metals producers are unable to keep up with what would be very high retail demand should prices drop lower, this according to Peter Hug, global trading director of Kitco Metals.
    “I think south of $14 [an ounce for silver], there’s going to be extreme interest in the market from the retail public. And if that happens coming into June, July, when the refineries and the Mints, i.e. the U.S. Mint and the Royal Canadian Mint, tend not to have peak production, that tends to spike premiums, so there could be some fireworks coming this summer,” Hug told Kitco News.
    He noted that key support levels will be $14 an ounce for silver and the low $1,200s for gold, as a fall below those levels could trigger strong retail demand.
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Comments • 17

  • C Joe
    C Joe 3 months ago

    sigh

  • WanderLust
    WanderLust 3 months ago +1

    5 year of flat-range bound gold has been insanely frustrating.

  • mvl9591
    mvl9591 3 months ago +2

    Gold trading is simple. There are Bulls and Bears, five guys with a basketball playing against eleven guys with a football. The action takes place on a baseball diamond. Everyone has a hockey stick and the Chairman of the Federal Reserve is on the pitcher's mound randomly throwing tennis balls, golf balls, or lawn darts. Now do you buy, sell, or hold?

  • Frisby Trucking
    Frisby Trucking 3 months ago +1

    Like they say...
    The time 2 accumulate is when nobody wants it ....

  • CEB
    CEB 3 months ago +1

    Only an idiot would sell silver right now

  • Billigan
    Billigan 3 months ago +1

    Bought bought physical gold and silver at Kitco Montreal a few years ago. Gold was at $1100 and $14 an ounce. Waiting to see if silver will hold at $14 this time around.

  • Work With Nature - How to Grow Food!

    I think it is because of bitcoin, but even more so because they have everyone in the stocks right now.

  • CEB
    CEB 3 months ago

    Please bring the cool intro music back.... It reminds me of Daniela.

  • Rich The Nepabadger
    Rich The Nepabadger 3 months ago

    Well his sentiment is pretty dire. Charles Nenner is saying buy gold stocks in July for a multi year bull run. Seems like a steady hand is in order here. No panic in this household.

  • M Hendricks
    M Hendricks 3 months ago

    GOLD GOING NOWHERE SINCE THE BANKSTERS WITH THEIR PAPER GOLD DUMPING ON THE MARKET WON'T ALLOW GOLD PRICE TO RISE!😑😑😑😑😑

  • Kreteman 777
    Kreteman 777 3 months ago

    Fuck gold!

  • Bona Fide
    Bona Fide 3 months ago +1

    There’s a guy who knows what he’s talking about, always worth listening to this man

    • mvl9591
      mvl9591 3 months ago

      Agreed! But Max Keiser is a hoot! I don't know if Max is crazy or not. Time will tell.

  • Salvador Gutierrez
    Salvador Gutierrez 3 months ago

    Yes

  • Without Worries
    Without Worries 3 months ago

    Gold is about to crash

  • Rockwell A. Brutell Trump Supporter

    Pete is a horrible analyst has zero credibility

  • None
    None 3 months ago

    Why is Peter sharper than Daniela? Kitco, ditch the phony greenscreen and get your stuff together. Your location video looks better than your studio stuff.