Why Gold Price Corrections Right Now Are A Great Thing: Frank Holmes

Technical indicators are signalling a buy opportunity for gold on a short-term basis, said Frank Holmes, CEO of Global Investors, who recommend buying on the dip in today's environment.
Other factors also contribute to his positive assessment of the yellow metal, including strong PMI data from China, which could signal good jewelry demand, as well as Venezuela's gold dump worth around $400 million.
"On a daily basis, in the past couple of days, it's a very attractive buy, you've got to buy when these countries are finally liquidating their assets before there's a change in government, and that's positive for the gold market," Holmes told Kitco News. (show less)

Technical indicators are signalling a buy opportunity for gold on a short-term basis, said Frank Holmes, CEO of Global Investors, who recommend buying on the dip in today's environment.
Other factors also contribute to his positive assessment of the yellow metal, including strong PMI data from China, which could signal good jewelry demand, as well as Venezuela's gold dump worth around $400 million.
"On a daily basis, in the past couple of days, it's a very ... (read more)

Kitco News
Kitco News

The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

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