Peter Hug – Should we be buying into these moves in gold and silver?
Global Trading Director at Kitco, Peter Hug chatted with Cory about the moves we are seeing in gold and silver. He outlines why gold has been strong this year and its continued drivers. As for silver the breakout this week is very positive but the lack of growth around the world will continue to put a cap on price.
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Great interview with Peter. Thanks for having him on the KER show Cory!
I regularly read his daily missives and watch his video interviews on Kitco. Good stuff.
I’m usually in agreement with his support and resistance levels.
Yeah. We like him. Thanks Cory.
Platinum closed at………….$1000
ONE DAY later………999………
Smart interview. Peter is a sensible guy with a balanced view.
Peter is really sharp. Really good market IQ. You guys should have him more often.
Gary, you keep expecting a pullback in precious metals mining stocks. Experience suggests that such a move should come. In fact it seems long-overdue to me. I have attempted to trade in anticipation of a pullback – to no avail.
B2Gold, which is my main PM stock, has run up 270% from its low of early this year.
Whatever retracements there have been, were quite minimal and a lot less than they “should” have been. It’s a nice problem to have, but I wonder if we are in a situation where people who wait, and wait, and wait for a major pullback to occur are going to be left standing on the pavement at the bus stop.
If we are at a real turning point in gold and PM stocks, there is little purpose in waiting for THE pullback to get in.
Now, we’ve been faked out so many times over the last couple of years, I have a hard time believing, simply from having my hopes dashed so many times, that this time is “different”. But if this is a real turning point in gold, I think we should forget about a major pullback in PM stocks.
The doubts persist Peter because gold is still in a bear market. Should gold itself move up over 1300 dollars or more ideally break that 1307 resistance peak I think a whole lot of new buying would come in and maybe we could call this a new bull market in metals.
But we are not there yet. Anyone asserting that what has happened thus far is anything more than a bear market rally is lying to themselves and not being objective about their charts.
That is not criticism of you btw. The sentiment within the gold community is excessively bullish right now. And why not? Some of us made a bundle off the lows. But there is no guarantee this will continue much longer.
I need to see a technical breakout before I will sign up with the-gold-bear-is-dead camp. We do NOT have that confirmation yet and I won’t allow myself the luxury of getting all gaga over gold until we do.
When that time comes there will still be a mountain of money to be made because the resumption of this bull should run for many more years. Call me a doubter in the meantime.
This was just a seasonal bounce.
Weird…I just left a long comment on the HUI index for you Peter and it vanished as soon as I hit send. Sorry about that. Maybe I will write it again later if it does not come back from internet hyperspace.
A lot of Wisdom expressed in Mr Hug. Opposite end of the Spectrum from Nadler.
Agree. He sounds like a normal person with good instincts. It would be great if he dropped in more often. Where is Rick Ackerman btw?
Cory….Al…..has Rick quit the show?
Finance Professor Invests In Jim Cramer’s “Buy Right Now” Portfolio, Loses Money On 67% Of Stock Picks
Remember, Cramer used to live out of his car until he figured out how to fool the rubes.
He did? That explains a lot.
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Peter Hug’s daily comments are some of the best. Good to hear him at greater length. More, please, Cory.
1265…1280…1307…….great comments on this time..and 2011….