Articles

More Pain Ahead For Equities: Peter Hug

More Pain Ahead For Equities: Peter Hug

Saturday, 1 February 2014

Peter Hug talks gold amidst issues coming out of emerging market economies, equities markets and the eurozone. Hug says he hopes the drop in global stock markets is simply a correction. "We're assuming here that this is a correction; it could go a little further," he says. "It's got some momentum behind it because of the emerging market issues that have developed since the Fed has begun to tighten. So there may be some more pain ahead." Looking at gold, Hug says he is not seeing any conviction for the yellow metal. "For me to be more convicted on gold, unfortunately is going to require a lot more damage on the equity market and subsequent issues with the emerging economies," he says. "If this is only a correction and the emerging markets stabilize, and money flows back into the equity markets...I'm having trouble getting behind the gold run." Watch now for more on the economy, gold and the PGMs.


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