Rates Left Unchanged: Will Gold Move Higher?

Daniela Cambone of Kitco News welcomes Frank Holmes back to the program, minutes after the Federal Reserve announced its decision to leave interest rates unchanged, for now at least. Gold passed the $1,300 mark earlier on Wednesday, so Daniela’s question for Frank is whether or not the metal can go even higher.

Frank says if history is any indication, the yellow metal has more room to run. Based on 30 years of data, Frank explains that gold historically rises in September, corrects in October and surges again with the start of the Diwali festival in India. Gold demand from this holiday, followed shortly after by Christmas and then Chinese New Year, is a positive reason investors could see the precious metal stay strong.

See what other economic data points Frank says could move gold this week. Watch the full interview below!

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