Buy Gold in the Dips, Says Frank Holmes

Author: Frank Holmes
Date Posted: August 13, 2019 Read time: 1 min

Kitco News' Daniela Cambone welcomed Frank Holmes back to the program to discuss key trends moving markets right now.

Frank Holmes joined Daniela Cambone on Kitco News to discuss the latest updates in the gold market. The yellow metal rallied above $1,500 last week for the first time since September 2013, but Frank warns that we could see a correction, as gold is up two and a half standard deviations over 60 trading days. “We can easily pull back and then ratchet up to a higher level.” Frank advocates a 10 percent portfolio weighting in gold and recommends that investors “buy in the dips” if gold pulls back slightly.

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Standard deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is also known as historical volatility.

The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies.

A basis point, or bp, is a common unit of measure for interest rates and other percentages in finance. One basis point is equal to 1/100th of 1%, or 0.01% (0.0001).