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With holidays and households getting ready for the fall, there are not that many traders, which results in all type of volatility, said Peter Hug, head of Kitco's rare-earth element department.
Hug spoke to Kitco Information on Wednesday when October gold futures traded down $35.40 to $1,935.40.
" During the last week of August, leading up to Labor Day, trading has a tendency to be really, very slim. Great deals of people are arranging their children for institution as well as attempting to take advantage of the recently of [unofficial] summer season. It does not take a whole lot to relocate the marketplaces," said Hug.
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Ignore the noise, this is a race to the bottom - Peter Hug
With holidays and families preparing for the fall, there are not that many traders, which leads to all sorts of volatility, said Peter Hug, head of Kitco’s precious metal division.
Hug spoke to Kitco News on Wednesday when October gold futures traded down $35.40 to $1,935.40.
"During the last week of August, leading up to Labor Day, trading tends to be very, very thin. Lots of people are organizing their kids for school and trying to take advantage of the last week of [unofficial] summer. It doesn't take a lot to move the markets," said Hug.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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