In a conversation with Kitco News, Peter Hug has suggested that fundamentals look weak for gold. But despite the decline, uncertainty over Grexit was supporting the gold.
Since the market is
extremely short, Peter says any surprises may provide
significant pops to the upside, despite a strong greenback weighing on the gold.
“But there are significant headwinds, from a commodity perspective, for the price of gold as long as this dollar remains stable to stronger, and the equity markets in the U.S. remain stable to stronger.”
