Silver Could Take Center Stage Says Frank Holmes
Daniela Cambone, host of Kitco News, welcomes Frank Holmes back for another edition of Gold Game Film, and this week she wants Frank’s thoughts on silver.
Daniela Cambone, host of Kitco News, welcomes Frank Holmes back for another edition of Gold Game Film, and this week she wants Frank’s thoughts on silver. The precious metal surged following the underwhelming U.S. jobs report last week, settling for its fifth-straight day on Tuesday, up around 4 percent. “I think it’s an important metal to follow,” Frank explains. “Because as people develop more confidence in the precious metals arena, silver starts to take center stage and revert back to its long-term ratio, or mean, which is around 40-to-1.” Frank thinks we could even see the metal run up to $30 an ounce.
Hear why Frank says both gold and silver continue to perform well this week despite the possibility of a rate hike. Watch the full interview below!
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The Purchasing Managers’ 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.