The Latest on Gold, Crypto and Oil Prices
Daniela Cambone welcomed back Frank Holmes to Kitco News to discuss the latest price movements in three major areas of the market: gold, cryptocurrencies and oil.
Daniela Cambone welcomed back Frank Holmes to Kitco News to discuss the latest price movements in three major areas of the market: gold, cryptocurrencies and oil. Frank believes that gold could potentially rally if the U.S. and China come to an agreement regarding trade this weekend at the G-20 Summit. In terms of oil prices collapsing, Frank comments that much of the movement is due to a lower global purchasing manager’s index (PMI) reading, which could turn positive, like gold, with a trade war resolution. Lastly, although cryptocurrency prices and sentiment are down, Frank says there is positive news, such as a falling hash rate and continued adoption from large banks.
For the full story, watch the interview below!
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All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.
Frank Holmes has been appointed non-executive chairman of the Board of Directors of HIVE Blockchain Technologies. Both Mr. Holmes and U.S. Global Investors own shares of HIVE, directly and indirectly. Investing in crypto-coins or tokens is HIGHLY SPECULATIVE and the market is largely unregulated.
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.