How Does Holmes See Gold
from Kitco News Kitco News speaks with US Global’s Frank Holmes to see how he sees gold set up following Sunday’s Super Bowl XLIX. Holmes says when looking at gold as a currency, it has performed “exceptionally well” however, he does think gold stocks are in need of a reversal. “Statistically speaking, gold stocks are so depressed,” he says. “Falling energy prices and weak country currencies…where gold is being produced is a huge windfall for many of these gold mining companies,” he adds. Holmes says that several factors are supporting gold prices right now including its safe haven appeal, but also negative real interest rates and Europe. “[N]egative real interest rates economically create uncertainty and the geopolitics of Europe creates another uncertainty, so gold definitely becomes the reasonable place to put capital.” Tune in now to hear his touchdown Super Bowl pass of the week.