Commodities At Inflection Point; Ignore Gold's 'Short-term Noise' - CEO
Gold’s drop to a four-week low this week on expectations of a potential December rate hike does not concern one chief executive who remains positive on the yellow metal. ‘This is a lot of short-term noise,’ Frank Holmes, CEO of US Global Investors, told Kitco News Thursday. According to Holmes, commodities may be at an inflection point and may provide a ‘great opportunity’ to investors as global PMI numbers have turned positive. ‘Every time this has happened, gold firms up, copper firms up,’ he noted. Another major news item in the gold space Thursday, is Prime Minister Modi’s implementation of the Indian Gold Monetization Scheme in the country. However, Holmes said he doesn’t expect it to do much to the price of the metal. ‘I don’t think it will have a big impact because most Indians are afraid it’s a trap,’ he said. Over the short term, he said Friday’s jobs report should have a positive effect on gold prices but over the longer term, he said it is important to look at PMI data . ‘The fact that China is turning the corner, means it is the time to look for opportunity.’ Kitco News, November 5, 2015. (show less)
Gold’s drop to a four-week low this week on expectations of a potential December rate hike does not concern one chief executive who remains positive on the yellow metal. ‘This is a lot of short-term noise,’ Frank Holmes, CEO of US Global Investors, told Kitco News Thursday. According to Holmes, commodities may be at an inflection point and may provide a ‘great opportunity’ to investors as global PMI numbers have turned positive. ‘Every time this has happened, gold ... (read more)
Gold Game Film
Gold Game Film features the founder of US Global Investors, Frank Holmes as he highlights play-by-play action in the gold market. Melding sports and precious metals, Holmes comments on gold’s touchdown pass of the week. Holmes also reflects on the opportunities and threats he sees for the gold market. Tune in every week to hear from our Monday Morning Quarterback, Frank Holmes.Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.
