According to a CNBC video report released today, gold is experiencing a seven-straight weekly loss (the longest losing streak in four years) at a drop of almost five percent.
In contrast, a recent article by Frank Holmes, chief executive officer and chief investment officer of US Global Investors, Inc., promotes having a positive outlook for gold. Holmes explains how “the price of gold moves in near-lockstep to each increase of the Fed’s balance sheet,” and that since the Federal Reserve is printing more and more dollars, the price of gold is likely to move along with it, as it has historically.
Gold’s ability to recover sooner rather than later may be debatable, but one thing is for certain: The precious metal promises to remain a hot topic for a very, very long time.
Click here to read the Holmes article in full.