November Is a Passing Storm for Gold
Daniela Cambone of Kitco News welcomes Frank Holmes back for another edition of Gold Game Film, and this week she wants to know what’s next for gold after a dim November. Frank points out that over 20 trading days, as well as over 60 trading days, the yellow metal is down two standard deviations. Because of mean reversion, Frank says that mathematically the metal is due to reverse and rally in the next 20 trading days into year-end.
Frank also shares his thoughts on gold-backed ETFs posting their biggest monthly drop in three years. Tune in to 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.