Central banks 'are stuck between a rock and hard place'

Precious metals look good due to the central banks finding themselves stuck "between a rock and hard place," said Gwen Preston, who runs the Resource Maven.

On Friday Preston recorded Kitco Roundtable with Mining Audiences Manager Michael McCrae and Kitco correspondent Paul Harris.

Preston was commenting on Bank of England, which decided not to raise rates on Thursday. The bank had made hawkish statements in the face of wage and inflation pressures.

"I think people are starting to realize that they're really stuck. We still need this liquidity in the global economy to try to keep things going otherwise the gears are just going to grind to a halt," said Preston.

"It just underlines what I was saying: that they're stuck between a rock and hard place."