I had a quick conversation yesterday evening with Kitco’s global director of trading, Peter Hug.
Peter has been researching and trading the metals since before you were born and he knows the space from every angle. We covered much ground here including:
1. Tracing the catalyst for the selling in gold to Cyprus and the implications for the rest of Europe.
2. Reports of forced selling by funds getting margin calls and the trickle down there.
3. Near term technicals.
4. Global Macro factors related to Europe and the continuation of stimulus in the US and Japan.
5. Copper demand in China.
Watch here:
$GLD $SLV $JJC