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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 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.
