Gold, Greenspan and the Elections

On this week’s episode of Gold Game Film, Kitco’s Daniela Cambone welcomes Frank Holmes to discuss a new week of economic data along with chatter around the gold price. Daniela asks what will move the precious metal this week, and Frank says the elections could have a significant impact on the gold price. He reminds investors that he doesn’t believe a certain political party will make the difference, but instead the political policies that come out of that party are what he will be watching.

In addition to new GDP numbers and global purchasing managers’ index (PMI) data that have been released, Daniela Cambone asks Frank to comment on Alan Greenspan – specifically noting the former Federal Reserve Chairman’s comments on gold during the New Orleans Investment Confernece.

Tune in to see what Frank says investors should pay attention to right now when talking gold.

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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. 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.

The ISM Nonmanufacturing index based on surveys of more than 400 non-manufacturing firms’ purchasing and supply executives, within 60 sectors across the nation, by the Institute of Supply Management (ISM). The ISM Non-Manufacturing Index tracks economic data, like the ISM Non-Manufacturing Business Activity Index. A composite diffusion index is created based on the data from these surveys that monitors economic conditions of the nation.  

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.

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 09/30/2014:  Tiffany and Co.