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Is A 2008-2011 Scenario In The Cards For Gold?

Scorpio

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vid at link
http://www.kitco.com/news/video/sho...io-In-The-Cards-For-Gold---Peter-Hug-Comments
Is A 2008-2011 Scenario In The Cards For Gold? -
Peter Hug Comments


Feb 01, 2016

Guest(s): Peter Hug Director, Global Trading, Kitco Metals
In the first trading day of February, gold has once again topped the $1,122 chart point. The metal is currently trading near its 3-month high. It has been a good start to the year for gold, with the market up nearly six percent in the past month. ‘You want to express a major upside number for gold but the choppy action makes investors wary,’ says Kitco Metals’ Global Trading Director, Peter Hug. Speaking with Kitco News, Hug adds, ‘A scenario similar to 2008-2011 may yet develop but I cannot in good faith just throw out an absurd upside target. The cross-currents in the market continue to suggest upside momentum for gold, but the move is likely to be jerky.’ Hug explains that it is definitely a technical market for traders but in the current environment a core position for investors is key. ‘Fundamentals line up for a higher gold price. The moon shot may be coming, but if you do a reality check, what will that mean for your other assets: home values, 401 k., and your job. Hold gold as an insurance play and hope you don’t need to cash in the policy.’ Kitco News, February 1, 2016. (show less)

http://www.kitco.com/news/video/sho...io-In-The-Cards-For-Gold---Peter-Hug-Comments
 

nickndfl

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Could be seeing that is how the DOW is shaping up.
 

the_shootist

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The moon shot may be coming, but if you do a reality check, what will that mean for your other assets: home values, 401 k., and your job. Hold gold as an insurance play and hope you don’t need to cash in the policy.’


Wise advice indeed