Gold and silver still have a long way to go – Peter Hug

(Kitco News) – The current bull market cycle in the metals is far from over, and the Federal Reserve would need to reverse course on monetary policy before we see a top in prices, said Peter Hug, global trading director of Kitco Metals.

“Until the central banks start to tighten monetary policy, you have bullish the commodity cycle and there is no visibility that they’re looking to do that until at least sometime mid-2022. We’ve got plenty of time with this liquidity being in the market and continuing, if not increasing, and in that context I just can’t bring myself to be bearish on the bull market,” he Hug said.

On the physical market, premiums on bars and coins for both silver and gold products are likely to remain elevated in the short-term, Hug noted.

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