Could Inflation Be Gold's Salvation? This CEO Thinks So
Could inflation be gold's last saving grace? The Labor Department's most recent data showed that CPI recorded its biggest increase in 6 months in October. Frank Holmes, chief executive officer for U.S. Global Investors, comments on the rise in inflation and what it could mean for gold prices. CPI should be a main focus for the gold market, especially given the inverse relationship between the metal's price and rising consumer prices, Holmes explains in this edition of Kitco's Gold Report. The most recent core CPI increased 0.1 percent. On an annual basis, the index which excludes food and energy jumped 2.1 percent, while the overall CPI rose 1.6 percent, the largest increase since October 2014. On Tuesday, gold prices ended the U.S. day session modestly higher on some short covering and bargain hunting following recent losses that saw prices hit a nine-month low last week. However, gains in the safe-haven metal were limited today by continued investor optimism, evidenced by major U.S. stock indexes all scoring record highs. December Comex gold settled the day at $1,211.20 an ounce, up 0.12% on the day. (show less)
Could inflation be gold's last saving grace? The Labor Department's most recent data showed that CPI recorded its biggest increase in 6 months in October. Frank Holmes, chief executive officer for U.S. Global Investors, comments on the rise in inflation and what it could mean for gold prices. CPI should be a main focus for the gold market, especially given the inverse relationship between the metal's price and rising consumer prices, Holmes explains in this edition ... (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.
