Will Gold’s Safe Haven Rally Last?
Joining Kitco News’ Daniela Cambone, Frank Holmes starts this edition of Gold Game Film by commenting on gold’s recent gains, closing up 4 percent on Friday.
Joining Kitco News’ Daniela Cambone, Frank Holmes starts this edition of Gold Game Film by commenting on gold’s recent gains, closing up 4 percent on Friday. Frank says last week’s rally came on the back of geopolitical events in North Korea and the Middle East along with distress in Chinese markets, causing investors to return to the precious metal as a safe haven asset. Although it’s encouraging to see the gold price move upwards, Frank believes this rally isn’t particularly “sustainable,” but rather the normal DNA of volatility for the metal.
Watch the full episode for Frank’s thoughts on palladium as well – the metal was down over 12 percent at the close of last week.
All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. 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.
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.