Fed Can’t Raise Rates, $1,222 Key For Gold – Peter Hug
from Kitco News Gold prices are keeping positive momentum on day 1 of this month’s Fed meeting as Peter Hug joins Kitco News on the latest edition of “For Pete’s Sake.” More poor economic data came out early Tuesday morning, adding to already poor data from Wednesday, is giving gold a boost, Peter says. “This morning we have Consumer Confidence out with one of the lowest readings in the last four years, again reinforces the effect of the economy not being as buoyant as many analysts think it could be,” he says. This naturally leads to that same old question of when the Fed will raise rates – in June or September, which Peter still sees only in 2016. Tune in now to see if he thinks this gold rally can be sustained and what key levels he is looking at for the metal.