Last week at the Jackson Hole Economic Symposium, Federal Reserve Chairman Jerome Powell reiterated the central bank’s commitment to raise interest rates gradually, with another rate hike expected in September. Following the meeting on Friday, gold surged above $1,200 an ounce and continues to experience gains this week. Frank explains how the yellow metal could rise even further due to the upcoming Indian wedding season, when gold gift-giving is considered auspicious. Historically, demand for gold jewelry rises leading up to fall holidays and celebrations in China and India, the world’s two largest consumers of gold.
For the full explanation, watch the video below!
Frank Talk Live features U.S. Global Investors’ CEO and Chief Investment Officer Frank Holmes as he dives into a new investment topic, from gold mining and global resources to digital currencies and emerging markets. Tune in weekly for updates on these key financial markets.
Learn more about investment opportunities in gold and precious metals by clicking here.
----------------------------
All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor.
The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies.
U.S. Global Investors, Inc. is an investment adviser registered with the Securities and Exchange Commission ("SEC"). This does not mean that we are sponsored, recommended, or approved by the SEC, or that our abilities or qualifications in any respect have been passed upon by the SEC or any officer of the SEC.
This commentary should not be considered a solicitation or offering of any investment product.
Certain materials in this commentary may contain dated information. The information provided was current at the time of publication.
Read more by Frank Holmes
