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Wednesday, September 18, 2013

Fed Fuels Gold Market

Kitco News talks with Peter Hug about gold as the FOMC meeting unfolds. Hug says the Fed wants to taper but the question is when. The market already expects the Fed to cut its bond-buying program by $10 billion, Hug adds. "This gold market needs continuous fuel. The Fed announcement will create the fuel one way or another." According to Hug, gold is finding support at the $1,307 level and if tapering is not announced, it can go as high as $1,350. Silver will follow suit, Hug adds. Tune in now to hear how he expects metals' prices to move this week. Kitco News, September 17, 2013.

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