Chinese New Year to Boost Gold Demand
At the Vancouver Resource Investment Conference 2020, just before participating on a panel of gold experts, Frank Holmes spoke with Kitco News' Daniela Cambone. Frank is bullish on gold in 2020, citing strong central bank buying globally to support currencies.
At the Vancouver Resource Investment Conference 2020, just before participating on a panel of gold experts, Frank Holmes spoke with Kitco News’ Daniela Cambone. Now that there is initial peace in the U.S.-China trade war, Frank thinks this will be positive for both countries and positive for gold demand. Giving this interview just before Chinese New Year, Frank reminds investors about the Love Trade, where gold-gift giving is considered auspicious during holidays in China and India – a huge source of gold jewelry demand since the two countries account for 40 percent of the world’s population.
Frank is bullish on gold in 2020, citing strong central bank buying globally to support currencies. Gold could move even higher if generalist investors participate, which they haven’t yet. “If you’re not long, you’ll be wrong.”
For the full story watch the Kitco News interview below.
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All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.
Holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the article were held by one or more accounts managed by U.S. Global Investors as of (12/31/2019): Gran Colombia Gold Corp.
Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period, though GDP is usually calculated on an annual basis. It includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory.
The Purchasing Manager’s Index is an indicator of the economic health of the 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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