China GDP: Non-Event For Gold, Silver Faring Well - Frank Holmes
Gold prices are moderately lower in early U.S. trading Tuesday, on some profit taking amid an increase in risk appetite among traders and investors early this week. February Comex gold was last down $0.50 at $1,090.50 an ounce. China’s GDP coming in at the lowest level in 25 years -- 6.9% -- was not helping gold’s plight, said Frank Holmes of U.S. Global Investors in an interview with Kitco News. World stock markets were given a boost on the China news, he explained. The main issue for gold, he continued, remains the strong U.S. dollar. Holmes said he’ll be looking to inflation data due for release later in the week. ‘Excluding oil and excluding food, CPI is estimated to be 2.1%, which is higher than a 5-year U.S. government bond. That bodes well for gold holding itself as a monetary asset.’ Holmes said that he is focusing on silver, ‘In a down week for most markets, silver fared the best, falling only 0.11 percent,’ he noted. ‘There was no particular story supporting the move, but note that silver really didn’t fully participate in the precious metal rally last week and perhaps had less to lose,’ he explained. March Comex silver was last up $0.209 at $14.105 an ounce. Kitco News, January 19, 2016. (show less)
Gold prices are moderately lower in early U.S. trading Tuesday, on some profit taking amid an increase in risk appetite among traders and investors early this week. February Comex gold was last down $0.50 at $1,090.50 an ounce. China’s GDP coming in at the lowest level in 25 years -- 6.9% -- was not helping gold’s plight, said Frank Holmes of U.S. Global Investors in an interview with Kitco News. World stock markets were given a boost on the China news, he ... (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.
