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Gold Above $1,280 Ahead of FOMC, As 10-yr Bund Dips Below Zero
Gold prices hold steady as markets await the conclusion of this month’s Federal Open Market Committee meeting and Fed chair Janet Yellen’s press conference. However, the metal managed to move higher as the German 10-year bond yield dipped into negative territory for the first time in history. According to US Global Investors CEO Frank Holmes, negative rates continue to be good news for the yellow metal. Gold futures managed to hold ground throughout the day with August Comex gold last down $1.20 at $1.285.70 an ounce. ‘I don’t think you will see rates go up,’ he told Kitco News. Holmes highlighted the upcoming British referendum as the event to watch. ‘I think that’s the big issue for the next 10 days.’ Looking at Europe, he also commented on the 10-year German Bund falling below zero, which he says was surprising given that the Brexit vote is still up in the air. (show less)
Gold prices hold steady as markets await the conclusion of this month’s Federal Open Market Committee meeting and Fed chair Janet Yellen’s press conference. However, the metal managed to move higher as the German 10-year bond yield dipped into negative territory for the first time in history. According to US Global Investors CEO Frank Holmes, negative rates continue to be good news for the yellow metal. Gold futures managed to hold ground throughout the day with ... (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.
