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Too Far, Too Fast? Gold Up 19% YTD, But Are Commodities Really Making a Comeback?
Gold and silver, as well as the mining sector have been among the top performing classes this year, but has the rally come too far, too fast? U.S. Global Investors’ chief executive officer, Frank Holmes suggests taking some profits now that gold is up 19% since the start of the year, and trading at levels last seen in 2015. Gold prices hit a 15-month high Monday, with June Comex gold futures breaching above the $1,300 level before falling back to current levels around $1,296.30 an ounce. With some gold analysts expecting the yellow metal to correct from these highs, Holmes says he welcomes it since he likes buying things ‘on sale.’ ‘We could see a 3 to 5 percent pullback and it would be a good and healthy correction,’ he said in an interview with Kitco News. (show less)
Gold and silver, as well as the mining sector have been among the top performing classes this year, but has the rally come too far, too fast? U.S. Global Investors’ chief executive officer, Frank Holmes suggests taking some profits now that gold is up 19% since the start of the year, and trading at levels last seen in 2015. Gold prices hit a 15-month high Monday, with June Comex gold futures breaching above the $1,300 level before falling back to current levels ... (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.
