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Gold pushes above $1,200 an ounce Monday morning and Kitco News speaks with Frank Holmes to see how he sees the metal set up ahead of Wednesday’s Fed meeting. “It’s a trading pattern and it’s just going sideways waiting to see what happens with the U.S. versus Europe and Japan,” he says. Frank also comments on physical demand following last week’s Indian gold-buying festival. “I think demand from retail investors has been weak,” he notes. “But i do think from Asia, from India, it’s going to be a double from last year, maybe even a triple,” he adds. Frank also says a positive for gold are central banks expanding their gold reserves. Some opportunities and threats in the gold market are explored as well, including China’s aim to make the RMB a reserve currency, Venezuela’s deal with Citi to convert gold into dollars and more. Tune in now to find out what his touchdown pass is for the week! Kitco News, April 27, 2015.
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