Is There Still A Case For Gold? Absolutely, Says This CEO

Even with gold trading near 8-week lows, one asset manager still sees a case for the yellow metal within the current investment environment. Speaking with Kitco News Wednesday, U.S. Global Investors CEO Frank Holmes said gold is just dealing with a cyclical low. ‘This is the seasonal pattern to be aware of,’ he said. June Comex gold futures continue to trade under pressure Wednesday, settling the day at $1,218.90 an ounce, up 0.11% on the day. To Holmes, gold will come back on investors’ radars once inflation starts to pick up. In the meantime, he wouldn’t be surprised to see prices fall slightly lower. ‘I think it’s probably got $50 on the downside if there’s some type of a trigger but I think this time next year it’ll trade higher,’ he said. (show less)

Even with gold trading near 8-week lows, one asset manager still sees a case for the yellow metal within the current investment environment. Speaking with Kitco News Wednesday, U.S. Global Investors CEO Frank Holmes said gold is just dealing with a cyclical low. ‘This is the seasonal pattern to be aware of,’ he said. June Comex gold futures continue to trade under pressure Wednesday, settling the day at $1,218.90 an ounce, up 0.11% on the day. To Holmes, gold will ... (read more)

 
 
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The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

 

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