Frank Holmes: Math of Markets Suggests Gold to Pull Back Before Bounce

Gold is overbought and is set for a short-term correction, said Frank Holmes, CEO of U.S. Global Investors.
"Short-term, we can easily get a correction," Holmes told Kitco News. "Over sixty trading days, gold is up two and a half standard deviations, looking [over] the past five years, but when we look over the one year rolling standard deviation, we still are not up one sigma, so we can easily pull back and ratchet up to higher levels."

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