Click here to get this article in PDF
Regarding the sharp sell on Wednesday, Hug lays the blame on lots of lengthy placements that required lightening in advance of the Fed announcement.
" They were simply seeing to it that if the Fed claimed something different … they would be able to take some money off the table. And I assume that created the selling today," said Peter Hug, head of Kitco's precious metal department.
__________________________________________________________________
Kitco Information is the world's # 1 source of metals market details. Our videos include meetings with noticeable market numbers to bring you market-affecting insights, with the goal of helping individuals make notified investment choices.
Sign up for our network to stay up to day on the latest understandings moving the metals markets.
For more breaking news, go to
Follow us on social networks:
Facebook –
Twitter –
Google+:.
StockTwits -.
Online gold price as well as charts:.
Live silver cost as well as charts:.
Don't forget to enroll in Kitco News' Weekly Roundup– appears every Friday to summarize the hottest stories & video clips of the week:.
Join the conversation @ The Kitco Forums and also become part of the premier on-line area for precious metals financiers:.
Please note: Video clips are not trading advice as well as the views expressed might not reflect those of Kitco Metals Inc
.
You can’t call this market normal – Peter Hug
Regarding the sharp sell off on Wednesday, Hug lays the blame on lots of long positions that needed lightening ahead of the Fed announcement.
“They were just making sure that if the Fed said something different…they would be able to take some money off the table. And I think that caused the selling today,” said Peter Hug, head of Kitco’s precious metal division.
__________________________________________________________________
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.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit http://www.kitco.com/
Follow us on social media:
Facebook - https://www.facebook.com/KitcoNews/?ref=br_rs
Twitter - https://twitter.com/kitconewsnow
Google+: https://plus.google.com/u/0/116266490328854474588
StockTwits - https://stocktwits.com/kitconews
Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
Live silver price and charts: http://www.kitco.com/silver-price-today-usa/
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
