Indian Monsoon to Hurt Gold Prices; Brexit Fears Recede - Frank Holmes

Gold prices ended lower Monday as investor risk appetite surges at the start of the trading week. Gold continues to be one of the best performing assets this year, but some investors seem to be agnostic when it comes to the metal. Frank Holmes, chief executive officer for U.S. Global Investors, explained that the metal headed lower for a second-straight session on Monday as growing expectations that the U.K. will remain part of the European Union lifted investors’ appetite for riskier assets and prompted a rally in global stock markets. Another risk he sees is the start of the monsoon season in India, which would hurt crop production and in turn, gold demand as investors lose purchasing power. Some profit taking from recent gains also weighed on the safe-haven metal. Last week, gold prices hit a nearly two-year high. August Comex gold settled the day down $2.70 at $1,292.10 an ounce. (show less)

Gold prices ended lower Monday as investor risk appetite surges at the start of the trading week. Gold continues to be one of the best performing assets this year, but some investors seem to be agnostic when it comes to the metal. Frank Holmes, chief executive officer for U.S. Global Investors, explained that the metal headed lower for a second-straight session on Monday as growing expectations that the U.K. will remain part of the European Union lifted investors’ ... (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.

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