Frank Holmes: A Rate Hike Would Disrupt Gold Prices and American Exports
Date Posted: October 2, 2015
Read time: 1 min
In this week’s Gold Game Film, Kitco’s Daniela Cambone asks Frank Holmes whether he agrees with International Monetary Fund (IMF) Managing Director Christine Lagarde’s recent comment that even a small U.S. interest rate hike would lead to a “significant change.”
In this week’s Gold Game Film, Kitco’s Daniela Cambone asks Frank Holmes whether he agrees with International Monetary Fund (IMF) Managing Director Christine Lagarde’s recent comment that even a small U.S. interest rate hike would lead to a “significant change.”
Frank says he agrees with the IMF, noting that a hike right now would likely “make the dollar scream higher,” which would be bad for gold prices in U.S. dollar terms. He also says it would disrupt “the American economy for exports, and we just saw last week that durable goods are down.”
Watch the interview to find out why Frank calls Glencore the “Lehman Brothers of mining.”
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Fund portfolios are actively managed, and holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the interview were held by one or more of U.S. Global Investors Funds as of 6/30/2015: Glencore PLC.
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