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Gold, Silver Hit 3-Week Highs As Speculators Say “More Room To Run”: Holmes
Gold and silver prices posted solid gains Monday as the U.S. dollar weakened and crude oil rallied. Both precious metals markets hit nearly three-week highs today and gold speculators think the precious metal has more room to run. “While gold futures have dipped from a 13-month high, hedge funds are the most bullish in fourteen months,” says Frank Holmes, the chief executive officer for San Antonio-based U.S. Global Investors. June Comex gold settled the day 1% higher at $1,258 an ounce while May Comex silver settled at $15.976 an ounce, up nearly 4% on the day. Federal Reserve chair Janet Yellen’s intentions to keep interest rates low for longer is a positive sign for gold, Holmes explained. “Gold popped to a one-week high following Fed minutes that indicated policy makers would remain cautious,” Holmes said in an interview with Kitco News. The U.S. dollar index dropped to an eight-month low Monday as prices continue to trend lower post the dovish rhetoric coming from Fed officials. Meanwhile, the worst performing precious metal for the week was palladium, down over 4.5%. Holmes highlighted a UBS research noting showing that platinum and palladium are having limited attention from investors right now. (show less)
Gold and silver prices posted solid gains Monday as the U.S. dollar weakened and crude oil rallied. Both precious metals markets hit nearly three-week highs today and gold speculators think the precious metal has more room to run. “While gold futures have dipped from a 13-month high, hedge funds are the most bullish in fourteen months,” says Frank Holmes, the chief executive officer for San Antonio-based U.S. Global Investors. June Comex gold settled the day 1% ... (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.
