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Peter Hug - Gold, silver prices bounce off support, can rally last?

Posted by David Ogden on December 02, 2020 - 8:04am


Peter Hug - Gold, silver prices bounce off support, can rally last?

Gold rose 2% on Monday, with silver up 5.5% on the trading session. Peter Hug, global trading director of Kitco News, said that fundamentals line up with this rally.

Equities also saw a bounce. Hug said that talks of a new round of fiscal stimulus is adding fuel to the risk-on sentiment while driving money to precious metals at the same time.

The U.S. dollar weakened on the trading session.


 

By David Lin

For Kitco News


 

 

Kinesis Money

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