Where’s The Conviction? Hug Talks Gold Ahead of President’s Day | Kitco News

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from Kitco NEWS

Gold prices have lost their modest early gains and are slightly weaker this Friday ahead of the President’s Day long weekend. For Peter Hug, a veteran trader and global trading director for Kitco Metals, he needs to see gold close above $1,242 an ounce before he is convinced the metal is headed higher next week. The U.S. dollar index has strengthened and is trading near its daily high, which is a bearish force working against the precious metals.

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