U.S. Global Investors [www.usfunds.com]

Record Consumption of Gold Continues

Frank Holmes joins Daniela Cambone, host of Kitco News, during a busy week for gold with the release of the Federal Open Market Committee meeting minutes on Wednesday. Frank says the release could move the gold price, although he predicts the precious metal will remain in the $1,000-$1,350 range for the next six months.

Frank adds that despite some of the negativity around the lower gold price, consumption has picked up for hardcore physical buyers, particularly in China. The upcoming festival and wedding season in India will also help with what he calls the Love Trade, or buying of the precious metal for cultural affinity.

 

 

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