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Gold prices have hit an important crossroads, with macroeconomic pressures positioned to pull the yellow steel in either instructions, this according to Peter Hug, Global Trading Director of Kitco Metals.
" I assume in the short-term, gold is a tough metal to call at these levels now. I don't assume the Fed is going to go down prices in the short-term but I do believe that there might be various other risks to the Fed policy which would obviously be if the U.S. stock exchange started to sell off," Hug informed Kitco News.
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Gold prices on tipping scale, these are the critical levels to watch says Peter Hug
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.
_________________________________________________________________
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