Is Yellen Or The USD Driving Gold Lower?

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Gold prices kicked off the week sharply lower as Frank Holmes is back from the Mines & Money conference in Hong Kong and discusses Fed Chair Janet Yellen’s hawkish comments Friday afternoon and the renewed strength of the U.S. dollar on this edition of Gold Game Film. Holmes notes that weakness in gold prices is a combination of Yellen’s comments spilling into this week and a stronger U.S. dollar – something he doesn’t see lasting. “The idea of rates rising in America, the dollar would just rip and the stock market would plunge,” he says. “It would plunge more in dollar value loss than one would imagine compared to gold falling to $1,000, or $900 an ounce. The wipeout in the stock market would be significantly greater.” Tune in now to see where Frank’s tossing his touchdown pass of the week. Kitco News, March 30, 2015.

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