Is USD Still Gold’s Biggest Threat? – Frank Holmes
Frank Holmes starts the week off with Gold Game Film as he weighs up
last week’s gold strength following Wednesday’s FOMC meeting. Holmes
notes that a correction in the U.S. dollar was due and that’s what
markets saw after the meeting concluded. “Everyone was long the USD, and
we saw redemptions for many weeks in a row out of the GLD, and there is
a trade that goes on between gold and the USD…now we got caught offside
because of the dovish meeting.” While a scale back in the USD has
helped gold prices, Holmes states that the currency remains a strong
threat to the yellow metal. Tune in now to see where Holmes’ is tossing
this week’s touchdown pass. Kitco News, March 23, 2015.
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