Gold Rallies Above $1,285; Is Market Ahead of Itself? - Kitco's Peter Hug
Gold prices popped to $1,285.70 in after-hours trading after President Trump said the U.S. dollar is "too strong."
KITCO NEWS -- Gold prices popped to $1,285.70 in after-hours trading after President Trump said the U.S. dollar is "too strong." And, according to Kitco's global trading director Peter Hug, traders might be hesitant to be short the metal ahead of the long weekend. Speaking with Kitco News Wednesday, the longtime trader said the gold market has been a "technical market" for some time and is now gaining strong momentum. But could the market be getting ahead of itself? Tune in as Hug shares his next targets for gold and silver.
This article is commentary by an independent contributor.
