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Thread: Gold At Critical Level - Peter Hug

  1. #1

    Default Gold At Critical Level - Peter Hug

    As gold continues its decent, Kitco News speaks with Peter Hug to see if he sees a turnaround for prices. According to Peter, fundamentals look weak for gold. “Fundamentally, we’ve been relatively negative the gold market,” he says. However, he says some pillars have been holding up the market, including uncertainty in Greece. Peter argues that the strong dollar is what is pushing gold prices down since the metal is a dollar-based commodity. Since the market is extremely short, however, Peter says any surprises may provide significant pops to the upside. “But there are significant headwinds, from a commodity perspective, for the price of gold as long as this dollar remains stable to stronger, and the equity markets in the U.S. remain stable to stronger.” Tune in now to see what levels Peter is looking at for gold under current market conditions. Kitco News, March 10, 2015.


  2. #2

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    Thanks for posting this. Worth watching.

    Continued gold weakness satisfies my short term objective of adding much more to the stack this year.
    But choose wisely

  3. #3

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    When it gets to 1030 there won't be any physical on the market to be had, soooooooo, you might as well stock up now.
    I was driving across the burning desert; When I spotted six jet planes; Leaving six white vapor trails across the bleak terrain; It was the hexagram of the heavens; it was the strings of my guitar; Amelia, it was just a false alarm. --Joni Mitchell, Amelia

    http://www.youtube.com/watch?v=N6d2RG2Rl64

  4. #4

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    Quote Originally Posted by zerozero View Post
    When it gets to 1030 there won't be any physical on the market to be had, soooooooo, you might as well stock up now.
    You read to many Kitco news articles.
    Did all of the physical gold get bought at $1135 in Nov 2014? no. So why would all of the physical gold get bought at $1030 in 2015. If people are buying gold all of the worlds mints will produce more product for you to buy. It is only $100 less.
    Another example silver went from $48/oz down to $15.65 in Nov 2014. Did all the physical siver get bought then? no. In 2015 silver is about $16/oz there are more pruducts then ever.
    Like BAD says when Kitco runs out of PM's BAD will take notice of a shortage. Until then planty to go around. Unless you buy a bar.
    awesome
    awesome bad .

  5. #5

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    Quote Originally Posted by BADxxx View Post
    You read to many Kitco news articles.
    Did all of the physical gold get bought at $1135 in Nov 2014? no. So why would all of the physical gold get bought at $1030 in 2015. If people are buying gold all of the worlds mints will produce more product for you to buy. It is only $100 less.
    Another example silver went from $48/oz down to $15.65 in Nov 2014. Did all the physical siver get bought then? no. In 2015 silver is about $16/oz there are more pruducts then ever.
    Like BAD says when Kitco runs out of PM's BAD will take notice of a shortage. Until then planty to go around. Unless you buy a bar.
    We will see when that point is reached. In '08, when gold dipped to $700/oz -- you couldn't find any physical gold or silver at reasonable premiums, including from Kitco. I remember this well. Bit the bullet and purchased into Kitco's gold pool to lock in what I was seeing as a very good buy. Purchased much of stack at this time. Good thing things didn't collapse, or I'll doubt those prices could have later been honored. That was a good sign that price would turn, as in the end, no matter spot price, if physical demand can not be met as related to spot price, physical listed at prices that can be supplied will be listed, and spot much follow or the game is up for all to see. So no matter how upset we may get in regards to paper manipulation of likely fictional gold holdings, in the end, actual physical sale and demand will effect spot price. Again, when there is no longer a link, spot price become known as a sham to all, and would quickly collapse. I'm sure many posters will call out when physical is no longer available at anywhere near sport price -- that is a time to take notice.
    Last edited by motocat; 03-11-2015 at 03:45 AM.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  6. #6
    Join Date
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    The price will never get below $1000 unless the $ index flies over 120.
    In ALL OTHER currencies gold and silver are nowhere near 2014 bottoms!!

    Nothing is going down: US $ is moving up and everything priced in it is dropping in it..get it?

    There is more in the world than just USA.....In the EU we see the stockmarkets explode upward whilst interest rates and euro "value" fall like "censored"!
    Everyone, even the shoe shiner, is putting their euro savings into the market right now!

    I am selling my stock, buying physical stuff now!

  7. #7

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    Thank you for posting.

    It's quite obvious that Peter fails to remotely understand how and why gold was taken down in price. It's not U.S. fundamentals improving, but the fact that more COMEX contracts that were dumped on the market in just a few hours is what drove the price down, not the "improving" U.S. job market. Unless, of course one wants the count the number of people getting another low paying part-time job to help make ends meets.

    The record number of U.S. households on SNAP foretells a very different story of any "improving" job markets or "recovery".

    Peter, does not know, nor does he posses the faintest clue of the role of gold in the worlds monetary system.

    Atlas is very correct in his posts.... More correct than he realizes....
    In Gold I Trust

  8. #8

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    Quote Originally Posted by motocat View Post
    We will see when that point is reached. In '08, when gold dipped to $700/oz -- you couldn't find any physical gold or silver at reasonable premiums, including from Kitco. I remember this well. Bit the bullet and purchased into Kitco's gold pool to lock in what I was seeing as a very good buy. Purchased much of stack at this time. Good thing things didn't collapse, or I'll doubt those prices could have later been honored. That was a good sign that price would turn, as in the end, no matter spot price, if physical demand can not be met as related to spot price, physical listed at prices that can be supplied will be listed, and spot much follow or the game is up for all to see. So no matter how upset we may get in regards to paper manipulation of likely fictional gold holdings, in the end, actual physical sale and demand will effect spot price. Again, when there is no longer a link, spot price become known as a sham to all, and would quickly collapse. I'm sure many posters will call out when physical is no longer available at anywhere near sport price -- that is a time to take notice.
    Not this time...people will panic and SELL. Watch.

    Some people levered up...borrowed on their house....turned in their 401K to buy PMs. Some did not stack any cash and will need it to live. This time it will be negative sentiment until the final flush...

  9. #9

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    1030 gold. It quickens a bottom feeders heart, I would probably start taking interest in buying gold again. In another universe where fundamentals mattered these developments might be seen as deflationary.

    EDIT: Daniela's hair looks very nice today.
    Last edited by stackymcstacker; 03-11-2015 at 02:38 PM.

  10. #10

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    Quote Originally Posted by stackymcstacker View Post
    1030 gold. It quickens a bottom feeders heart, I would probably start taking interest in buying gold again. In another universe where fundamentals mattered these developments might be seen as deflationary.

    EDIT: Daniela's hair looks very nice today.
    Hmm, in this universe it appears that way to me.

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