Gold Jumps More Than 1% Ahead of Inauguration Friday
Gold prices ended the U.S. day session solidly higher and hit a nearly two-month high Tuesday. Resurfacing worries about the U.K. leaving the European Union prompted some safe-haven demand for gold today, however, Frank Holmes, chief executive officer for U.S. Global Investors, explained that there are other factors propping up the metal. The U.S. dollar, which fell half a percent to six-week lows against major currencies, was one of them. The yellow metal jumped more than 1 percent to its highest level in nearly eight weeks on Tuesday after U.S. President-elect Donald Trump said the dollar was "too strong," sending the greenback lower. February Comex gold futures settled the day at $1,212.90 an ounce, up more than 1% on the day. Meanwhile, spot gold rose 1.1% to $1,215.90 an ounce, after touching a Nov. 22 high of $1,218.64. (show less)
Gold prices ended the U.S. day session solidly higher and hit a nearly two-month high Tuesday. Resurfacing worries about the U.K. leaving the European Union prompted some safe-haven demand for gold today, however, Frank Holmes, chief executive officer for U.S. Global Investors, explained that there are other factors propping up the metal. The U.S. dollar, which fell half a percent to six-week lows against major currencies, was one of them. The yellow metal jumped ... (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.
