KITCO NEWS -"Despite a drop in late trading, gold prices managed to rally to seven-month highs Wednesday, trading near that key $1,300 level." The mining stocks, on the other hand, seem to be lagging a little behind. However, fund manager and U.S. global investors CEO Frank Holmes says he isn't concerned, calling some gold stocks 'great buys' at the moment. 'It is so easy for gold to hit $1,300 because the 2-year, 5-year and 10-year government bonds all have negative real interest rates,' he told Kitco News. Gold saw a late afternoon dip with August futures last at $1,287 an ounce, down $10.50 on the day.

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This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.

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