Gold rebounds, but should traders stay bullish? Peter Hug talks strategy

Kitco News, Released on 10/30/20

0:00 – Gold price action and trading
4:30 – Monetary policy
9:00 – Gold returning as safe haven?
10:24 – U.S. dollar

Gold has rebounded on Friday, up 0.56% as of 2:00 pm EST, while equities indices are falling. Traders should not assume, however, that gold is decoupling from risk assets based on one trading session, said Peter Hug, global trading director of Kitco Metals.

Hug advises traders to stay flat going into the November 3 election, while investors should not be liquidating their positions now and focus on the long-term fundamentals.

Peter Hug has been involved in precious metals since 1974. He began gaining first-hand investment industry experience at Deak-Perera. He served as SVP at Guardian Trust Company, which became one of the largest international trading houses for precious metals. He developed the first precious metals certificate program and the first margin trading accounts for metals on the cash market. Peter has acquired extensive experience in the wholesale markets and international asset diversification. A frequent speaker at precious metals conferences and in the financial media, he is one of the handful of experts who have succeeded through multiple bull and bear cycles on the strength and skills honed during the dramatic fluctuations of the 1980s. As the Director of Kitco’s Precious Metals Division, Peter develops newer and better investment options for Kitco customers.