A Battle of Gold Bulls and Bears
On this week’s Gold Game Film with Kitco News, Daniela Cambone asks Frank Holmes what investors should be watching to see where the gold price could go this week. Frank acknowledges that the strong U.S. dollar continues to push gold prices lower, but makes a case for the yellow metal on the back of research from the World Gold Council that shows a 1 percent increase in GDP has lifted jewelry consumption by around 5 percent – a positive for gold.
Frank continues the discussion with other positive signs for gold including the demand strength it has seen again in India and even in Russia despite ongoing political tensions. Check out the entire replay to hear more reasons why Frank holds his bullish position on gold.
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The ISM manufacturing composite index is a diffusion index calculated from five of the eight sub-components of a monthly survey of purchasing managers at roughly 300 manufacturing firms from 21 industries in all 50 states. The J.P. Morgan Global Purchasing Manager’s Index is an indicator of the economic health of the global manufacturing sector. The PMI index is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.
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