The Gold Market Wants To Go Higher: Peter Hug

Peter Hug made it back in one piece from Sin City and speaks with Kitco News' Daniela Cambone about gold's price volatility this week. Fed Chair Janet Yellen concluded her two-day testimony this afternoon and Hug says she is basically holding course. "[She] is indicating that policy will be initiated as needed, meaning it is data-dependent," he adds. Hug also says gold's moves are common in such a thin market. "Nothing has changed. I just think in a thin market you get a couple of big trades [and] it's very easy to move these markets by $20-30 just on trade volume," he adds. Tune in now to see what he thinks of silver and to hear his key range for gold this week. Kitco News, July 16, 2014.