Silver’s future is bleak as a recession could wipe out any industrial demand left for the metal, this according to Peter Hug, global trading director of Kitco Metals.
Monetary policy was not enough to calm investors, Hug noted, as markets reacted negatively to the last Federal Reserve rate cut made last Sunday.
“That episode really scared the market. It indicated that the Fed pushing on a string here is not going to solve the issue. It’s going to require some significant fiscal policy,” he said.
Hug said that a recession may now be underway.


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