Gold Holds $1,300; Focus on U.S. Inflation Data This Week – Frank Holmes

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Down from last week’s gains, gold is still above $1,300 and Kitco News speaks with US Global’s Frank Holmes to see how he sees the metal setting up this Monday. Although equities are up from last week’s lows, Holmes says this is not a threat to the yellow metal. “What we saw last week [in equities] was a rebound predominantly in the big caps,” he says. “I think the real issue was the EU and Germany. The 2-year bonds went negative in Germany.” Holmes says this data is deflationary and could be positive for gold. “Whenever a country has negative real interest rates, gold starts to rise in that country’s currency.” Looking over at Asia, Holmes comments on the recent import data coming out of India showing that over 40% of gold leaving Switzerland ends up in the country. Is the love trade back? Tune in now to find out what Holmes thinks may be gold’s touchdown pass and to hear some key opportunities in the gold market this week. Kitco News, August 11, 2014.

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