Gold’s Touchdown Pass: Will Janet Yellen Fumble On Rates?

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Frank Holmes talks gold, FOMC, and the Far East on this edition of “Gold Game Film.” Holmes says all eyes will be on the Federal Open Market Committee meeting ending on Wednesday. “How will [Janet Yellen] describe the exit by the fed from the bond market and will they be looking at an extended period of time before they change interest rates,” he says will be the main focus of the meeting. Moving eastward, Holmes also shares his thoughts on the Scottish referendum, continued sanctions on Russia and the upcoming Shanghai Gold Exchange (SGE) and how all of these may eventually affect the gold market. In particular, the SGE, he says, will change the flow of gold and may provide a great opportunity for the metal. “Remember the strategy for China and Shanghai, because it created a tax-free zone, is to make this the dominant place in the world for gold trading. That’s the long-term vision,” he says. “And based on the size of their GDP and growth rate, it’s only a matter of time.” Tune in now to find out what quarterback Holmes thinks may be gold’s touchdown pass this week and more! Kitco News, September 15, 2014.

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