Gold Has a Bad November, But Just a Passing Storm - CEO
Gold is seeing its worst monthly decline in nearly three years as prices drop more than $100 in November, reacting to a strong U.S. dollar and higher bond yields. The metal ended solidly lower and hit a fresh 10-month low Wednesday. However, Frank Holmes, chief executive officer for Texas-based U.S. Global Investors, said that this should be a passing storm for gold. Holmes added that another headwind for gold includes the major outflows in exchange-traded funds. Investors pulled out more than $2 billion from SPDR – the biggest gold-backed ETF – since the end of October. February Comex gold settled the day at $1,173.90 an ounce, down 1.4% on the day. Holmes also shares his touchdown pass of the week, with jobs data and the pending Italian referendum, what could really be driving gold? (show less)
Gold is seeing its worst monthly decline in nearly three years as prices drop more than $100 in November, reacting to a strong U.S. dollar and higher bond yields. The metal ended solidly lower and hit a fresh 10-month low Wednesday. However, Frank Holmes, chief executive officer for Texas-based U.S. Global Investors, said that this should be a passing storm for gold. Holmes added that another headwind for gold includes the major outflows in exchange-traded funds. ... (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.
