Wednesday, May 28, 2014
Rising Asian GDP Per Capita Could Trade Gold Higher: Frank Holmes | Kitco News
Kitco News gets U.S. Global’s Frank Holmes thoughts on the presidential election results in Ukraine and how he sees it affecting gold, which was the big news over the weekend. The metal is struggling to breach that $1,300 mark Monday morning and Holmes says that we are simply in a seasonal low seeing as gold historically finds a bottom in either June or July. “It could easily correct here,” he says. “But I think the more important thing that took place was Putin making comments regarding the significance of gold and China.” Looking over at Asia, Holmes says the new Indian leadership seems to be aiming for rising GDP per capita, which would be good for gold demand out of the country. However, he says instability in Thailand may be something to keep an eye on since they are large consumers of the yellow metal. Tune in now to hear some opportunities and threats in the market as well as what he thinks may be gold’s touchdown pass this week. Kitco News, May 26, 2014.
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