Frank Holmes: Gold Outlook 2017
Fox News host Connell McShane welcomes Frank Holmes to The Closing Bell to discuss his outlook for gold in 2017, particularly while gold prices are down around 18 percent from their 2016 highs.
Fox News host Connell McShane welcomes Frank Holmes to The Closing Bell to discuss his outlook for gold in 2017, particularly while gold prices are down around 18 percent from their 2016 highs. Frank says that short-term, the yellow metal is extremely oversold. He explains that if investors look at gold’s rolling 60-day price action going back over 10 years, the metal is currently down two standard deviations. Mathematically, this means it’s due to reverse course. Frank believes there is a 90 percent probability for gold to rally from now until the end of January.
For more of Frank’s 2017 outlook, you can watch the full interview below!
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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.