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Regardless of Thursday's precious metal sell-off, problems have actually not altered for gold and silver, said Peter Hug, division head for rare-earth elements at Kitco.
Speaking With Kitco Information on Thursday, Hug stated problems declare for gold because of the amount of financial support offered by banks.
" The macro photo has actually not altered. [Every] central bank on the planet has actually obtained their foot on the pedal, and I don't think they're mosting likely to take their foot off the pedal probably till the end of 2021," stated Hug.
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Why the gold price drop was just more positive news for precious metals – Peter Hug
Despite Thursday’s precious metal sell-off, conditions have not changed for gold and silver, said Peter Hug, division head for precious metals at Kitco.
Speaking to Kitco News on Thursday, Hug said conditions are positive for gold due to the amount of fiscal support provided by banks.
“The macro picture has not changed. [Every] central bank in the world has got their foot on the pedal, and I don't think they're going to take their foot off the pedal probably until the end of 2021,” said Hug.
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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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Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
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