Gold Prices On Course For Longest Winning Streak Since 2011: Frank Holmes

Feb 11, 2016
Guest(s): Frank Holmes CEO, U.S. Global Investors

Gold hit a 12-month high of $1,247 an ounce on Thursday as a spooked world marketplace prompted safe-haven demand for the metal. Analysts are suggesting that on a near-term technical basis, the recent price action has been very impressive and significantly bullish. ‘Gold prices peaked at $1,900 per ounce in September 2011. It was the end of a spectacular, decade-long bull market, during which the precious metal’s value increased a phenomenal 645 percent,’ explains Frank Holmes, CEO of U.S. Global Investors. ‘Since then, gold has struggled to regain momentum as an ever-climbing stock market has drawn more and more affection from investors. But after posting three straight years of losses, it looks ready to shake off this trend,’ he explains in an interview with Kitco News. Holmes says that not only is the metal trading at 12-month highs, it’s also on course for its longest winning streak since the glory days of 2011. Holmes reminds viewers that just a short while ago, some gold market watchers were proclaiming the yellow metal had forever lost its safe-haven allure. As it appears to have turned out, those proclamations were just a part of the psychology of the marketplace, he explains. Gold prices have appreciated more than 18% since early January. Kitco News, February 11, 2016. (show less)

Gold hit a 12-month high of $1,247 an ounce on Thursday as a spooked world marketplace prompted safe-haven demand for the metal. Analysts are suggesting that on a near-term technical basis, the recent price action has been very impressive and significantly bullish. ‘Gold prices peaked at $1,900 per ounce in September 2011. It was the end of a spectacular, decade-long bull market, during which the precious metal’s value increased a phenomenal 645 percent,’ explains ... (read more)

Gold Game Film

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.