Kitco’s Peter Hug returns… Doubtful that a China deal will happen. Brexit is delayed but not forgotten. The stock is just not valid from a fundamental perspective. Risks are to the downside. Tax-loss selling ahead. The Fed will have no choice but to cut in 2020. After the spectacular run up in metals it make sense that there would be a pullback. Trillion dollar deficits, China in a slow down, how can it be bearish for gold? Anyone sourcing product out of China is seeing their costs go up and it will eventually be passed down to the consumer. Can it not have an affect on the stock market? Hong Kong is buying metals aggressively and selling off HK$ for US$. Iran is melting down. Demonstrations and riots are heading close to a tipping point. There are so many countries approaching political metldown. Just pick one and watch what happens next.
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