from Kitco NEWS
Investors have to remember that the fundamental cause of this current recession is different from that of the last one in 2008 and should price gold in accordingly, said Peter Hug, global trading director of Kitco Metals.
“This is not the financial crisis of 2008, this is a health crisis. Gold did rally from the $1,500s to the mid-$1,700s and is now straddling the $1,700 mark and everyone’s anticipating that gold should be $3,000 an ounce because of the Fed stimulus,” Hug told Kitco News. “I’m just not convinced that massive inflation is imminent.”
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