Eyeing Global PMIs For Gold’s Direction This Week – Frank Holmes

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Gold rebounds on Monday and Kitco News speaks with Frank Holmes to see if he thinks this trend can continue. Holmes says he thinks there’s short covering today following yesterday’s Swiss referendum, which he says was not a major factor for the gold market. “What’s much more important are what are real interest rates doing around the world,” he adds. Holmes also comments on India’s recent reversal of gold import restrictions, with the government removing the 80/20 rule on gold imports in the country. “I think it’s positive what’s taking place in India for demand,” he says. Holmes also comments on the trend with central bankers repatriating their gold, as well as recent manipulation allegations in precious metals markets. Tune in to find out what he thinks may be some major threats to the gold market and what he will be watching as this week’s touchdown pass! Kitco News, December 1, 2014.

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