Panama Papers Leak Confirms Gold Is Money
Leaked documents in Panama this week show that wealthy citizens are using the country as a tax haven to hide their capital.
Leaked documents in Panama this week show that wealthy citizens are using the country as a tax haven to hide their capital. Kitco News’ Daniela Cambone asks Frank what he makes of the news, particularly as it relates to gold. Frank says the leaks come as no surprise to him, but that the situation does confirm that gold is money.
In terms of price action at the beginning of the second quarter, it seems that gold is getting off to a slow start. Frank explains that April is usually a sloppy month for the metal, and that we could see it go through a transition period over the next month. Watch the entire interview below to see what Frank’s touchdown pass for the week is!
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. None of the securities mentioned in the interview were held by any accounts managed by U.S. Global Investors as of 12/31/2015.
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 Consumer Price Index (CPI) is one of the most widely recognized price measures for tracking the price of a market basket of goods and services purchased by individuals. The weights of components are based on consumer spending patterns.
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