How Will Gold Move Following Yellen's Testimony? Frank Holmes Comments

By Kitco News / July 10, 2017 / / Article Link

Jul 11, 2017 Guest(s): Frank Holmes

Following the release of Donald Trump Jr's chain of emails regarding the Russia meeting, gold prices popped higher. August gold futures last traded at $1,216 an ounce, up 0.23% on the day. Ahead of the surprise email dump, gold was hovering in solidly negative territory, jumping almost $8 in minutes. Kitco News speaks with Frank Holmes, chief executive officer for U.S. Global Investors, about gold's sudden movements. Talking ahead of Janet Yellen's testimony before Congress on Wednesday and Thursday, Holmes said he wouldn't be concerned if gold were to fall below $1,200. Two key measures of inflation, due out this week, are what Holmes said he will be closely watching. The consumer price index (CPI) and producer price index (PPI), are big numbers to watch after last week's meager wage growth, Holmes explained.