Kitco Wed.May 22nd, 2019) – Investors may be in for “fireworks” this summer if precious metals producers are unable to keep up with what would be very high retail demand should prices drop lower, this according to Peter Hug, global trading director of Kitco Metals.
“I think south of $14 [an ounce for silver], there’s going to be extreme interest in the market from the retail public. And if that happens coming into June, July, when the refineries and the Mints, i.e. the U.S. Mint and the Royal Canadian Mint, tend not to have peak production, that tends to spike premiums, so there could be some fireworks coming this summer,” Hug told Kitco News.
Gold and the metals tend to become range bound in the summer, however this year Palladium is taking control and may force investors to buy into gold/silver as well. As stated above, other countries currencies are watching gold become more expensive every day with a strong dollar in play for now.
Posted by :
Jack Dempsey , President
401 Gold Consultants LLC
jdemp2003@gmail.com