Gold price to break record by year-end; bullion premiums normalizing – Peter Hug

Gold prices could see 2011 highs of $1,920 an ounce or higher, said Peter Hug, global trading director of Kitco Metals, who noted that a full economic recovery won’t materialize until later next year.

Meanwhile, bullion premiums have normalized.

Pandemic fears are still far from over, Hug said. In this interview he discusses the risks to equities that still linger in the economy, and should another correction take place for risk assets, gold may be pulled down with stocks before another rally were to take place.
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Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.

[ArgentPure]

I wish I had a dollar for every time I've heard "Gold price to break record by year-end".

[phatvegan]

People Currency is not money! They are two separate things. Gold and silver are the only true money in this world right now.

[cliffordpell]

I predict beyond any doubt that gold will either go down or up sometime soon. Sadly, it often seems to depend on whether I buy or sell it. It usually goes down just after I buy it, and up again after I sell it. No peeking...

[chrissummerfield]

Gold and silver are a great store of welth . plus stacking is a great hobby 😀

[kosukekoichi]

As long as it doesnt hit $10, 000, gold is underperforming massively.

[TarBabyJim]

I believe we will see $50 silver by June 2021, my guess is as good as any.

[jmartin]

Great great you again both for such great information!!!

[JeffreyViews]

In other words, silver and gold have been on sale for several years.

[uiop]

I like listening to Mr Hug even though I don't trade gold - just use it as a store of value for what must be coming.
Are people _really_ going to run to cash instead of PM if the 2nd wave is more like a spike?

[billydgarrett]

18 months ago. Physical gold was 1200. Now. 1725. So. Thats about a 40 loss for the paper dollar. Same for all fiat world currency.

[carlos]

The uptick rule needs to be re-enforced to stop the market manipulation.

[TonyL-gwqx]

Seasonal demand versus situational demand? Which one is more pertinent today?
Situation is the following:
Record money printing
Record debt
Record unemployment
Record low interest rates
Near record bankruptcy declarations
Record after record in the positive demand column for metals.
Versus seasonal demand?
Same person that said silver eagles are not known if you go to the East?
What if you never plan to go to the Eastern part of the world?
Are the premiums because all the dealers are fleecing the buyers?
Or are the premiums because silver and gold are costing more than what wall street says it should be?
Where is the disconnect with this entire situation?

[joelspicher]

excellent interview, some great views and thoughts !

[laughinglion]

Peter wouldn't be at kitco if he didn't know about this subject but in the past i haven't like what he said, he might just be being modest, i still think the same with all the money that has been printed and the American constitution. I feel everyone is out of

[michael]

10:55 How can you say that when rates are 0% on the 10 year down from 2%? Do you even know the CAPM? S&P500 could see earnings decrease by ~25% and still be worth the same in the context of interest rates. Considering we are still down 10% that means -35% earnings is the same valuation as pre-covid. Please educate yourself.

[NineteenEighty-Four]

WTF? "Premiums in physical have gone down to pre-COVID levels" but the spot price is higher now and so where's the savings? Seems like a wash if not higher overall now.

[SoCalFreelance]

Today I heard a scientist say it would be a miracle of modern medicine if a vaccine was developed in 2021. This will be with us for awhile.

[ratoneJR]

The FED IS destroying the value of the USD, no doubt. Gold will come in handy...someday.

[elizabethplum]

Worst you can do with precious metals is leave them to your grandkids, Someone woill benifit probably them.

[WalterMangandid]

Gold compared to other currencies other than the US dollar is at all time highs. Imagine if the dollar collapses...