Commodities At Inflection Point; Ignore Gold’s ‘Short-term Noise’ – CEO | Kitco News

Gold’s drop to a four-week low this week on expectations of a potential December rate hike does not concern one chief executive who remains positive on the yellow metal. ‘This is a lot of short-term noise,’ Frank Holmes, CEO of US Global Investors, told Kitco News Thursday. According to Holmes, commodities may be at an inflection point and may provide a ‘great opportunity’ to investors as global PMI numbers have turned positive. ‘Every time this has happened, gold firms up, copper firms up,’ he noted. Another major news item in the gold space Thursday, is Prime Minister Modi’s implementation of the Indian Gold Monetization Scheme in the country. However, Holmes said he doesn’t expect it to do much to the price of the metal. ‘I don’t think it will have a big impact because most Indians are afraid it’s a trap,’ he said. Over the short term, he said Friday’s jobs report should have a positive effect on gold prices but over the longer term, he said it is important to look at PMI data . ‘The fact that China is turning the corner, means it is the time to look for opportunity.’ Kitco News, November 5, 2015.

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: http://www.kitco.com/newsletter

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com — Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews — Kitco News on Facebook: http://facebook.com/kitconews — Kitco News on Google+: http://google.com/+kitco — Kitco News on StockTwits: http://stocktwits.com/kitconews

Categorised as: interesting

Posted by: Upostink

Comments are disabled on this post

Comments are closed.

Disclaimers – All content here is NOT presented as investment advice; LessThunk is NOT endorsing any website or specific investment by displaying external links.

We may or may-not (coincidentally) hold some quantity of stock or other investment related to any given post, no endorsement is implied in any sense.