The Dollar and Gold Wrestling Match
Live from Singapore, Frank Holmes joins Kitco host Daniela Cambone for this week’s edition of Gold Game Film. Starting with the two-week low that gold experienced Tuesday morning, Frank explains to Daniela that this is nothing more than the natural, ongoing wrestling match between the U.S. dollar and the volatility of the yellow metal.
Frank also reminds investors that we are going through the seasonal low that takes place for gold in the months of May and June, and has done so for 35 years now. He doesn’t think there is any reason to get too worried about the correction that has taken place.
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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.
M3 money supply is the broadest monetary aggregate, including physical currency, demand accounts, savings and money market accounts, certificates of deposit, deposits of eurodollars and repurchase agreements.
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