Peter Hug comments on what it will take for an uptrend for gold to develop
Peter Hug the Global Trading Director at Kitco joins us to discuss the sell-off in the markets that we are seeing today and how this is impacting the moves in gold. With all the negative news from markets around the world why is gold not getting a larger bid?
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Agreed. Peter is a sharp guy, and I always read his missives and listen to his audio interviews on Kitco. I appreciate his level-headed approach to the metals, currencies, and general equities markets. Good stuff!
+1. Selling everything with the fear factor controlling. It will eventually slow down and end. Then better minds will be re-thinking instead of following the herd. That’s when gold could get a bid.
One of my subscribers who is very familar with the metals market said it well.
“The entire PM market from London fix, to CFTC lack of enforcement, to assignment of GLD/SLV custodians, and designation of Authorized Participants – has been set up in order that the cartel can do almost whatever they wish with impunity. May not always get their precise desired result, but no one will stop or impede them from trying repeatedly.
Until those wishing to own physical gold overwhelm the numbers of those selling paper IOUs, nothing will change. And if central banks are peddling their influence in the PM market, then it is going to require a global panic IMO in order to move the needle.
Hello Gary….May i ask you a question please. WHY did you leave KER ?.
I just got tired of the trolls.
Interestingly enough Gary, you seemed to attract the majority of the “trolls” Any reason for that?
Gary – Why don’t you just come on and do the audio commentary then and just not focus on the blog comments? I would think it would be a good exercise in keeping the ax sharp to keep interacting with Al, Cory, Doc, Rick, and Chris T. on the round-tables and market wraps just because of the differing opinions and approaches everyone has.
Gary, I for one have been coming to the website almost every day for about 4-5 years and have seen guests come and go (Roger Wiegand, Peter Grandich, Bo Polony, etc…) While I still liked their input, they were not missed as much when they left as you were buy the audience here.
Since you started interacting with the KER crew I’ve listened to the vast majority of your audio commentary, viewed the charts you posted, and statements you posted in the blog and always appreciated your thoughts. I’ve observed how people act on here where they like or don’t care for a speaker, and there is NOBODY that has had a 100% approval rating from the audience (including Al & Cory). If David Morgan, or Doug Casey, or Rick Rule, or Peter Schiff, or Avi Gilburt, or Marin Katusa, or Bob Moriarty, or any of the well known names in the industry come on here, there are always some haters that come out to let them have it. That is the internet, and that is what happens if you share a strong opinion.
It is pretty obvious that your insights were appreciated by the majority of posters and listeners, and there are many listeners that never post but really enjoy the audio. Just my opinion of course, but it seemed like the area that generated the most trolls was the market manipulation conversation. The fact that people kept going over and over this topic and beating a dead horse is what got the trolls and even level-headed posted that simply disagreed all riled up. How about just coming on discussing your cycles work, and leaving the manipulation discussion out of it. If the cycles get stretch or don’t work out, just course correct, and recalculate based on the new data.
Don’t let a few bad eggs spoil the bunch, and rise above what other people think of you. There will always be haters, and there will be more of them if you actually take a stand on anything. That’s just human nature.
The scales were always tipped towards more good being done for this community than bad. Hopefully one day you’ll start popping back on at least for some friendly discussions and market analysis.
I concur with everything Excelsior has said. Gary the Korelin Report is not the same without you. Please come back!
Stewar thompson says interest rates are going WAY up in the us and this will destroy Gold and Silver in us dollars
What do you think
Excellent. Got a lot of time for Mr Hug.