Nov 28, 2018 Guest(s): Frank Holmes CEO, U.S. Global Investors
Gold started Wednesday's trading session at $1,214 but rallied sharply at noon following Federal Reserve Chair Jerome Powell's dovish stance on the economy during a speech he gave at the The Economic Club of New York.
Powell's speech signaled that interest rates are almost already at neutral, pushing the dollar down and gold up past $1,230 an ounce before stabilizing at $1,220.
Frank Holmes, CEO of U.S. Global Investors, said that one of the main short-term drivers of gold prices is still the ongoing trade war with China.