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
David – http://markethive.com/david-ogden