Could Higher Lumber Prices Be Good News For Gold? - CEO
Although gold has been getting a lot of investor attention, there is another commodity that is moving higher: lumber.
KITCO NEWS -- Although gold has been getting a lot of investor attention, there is another commodity that is moving higher: lumber. And U.S. Global Investors CEO Frank Holmes tells Kitco News that rising lumber prices could be good news for gold. "Lumber prices are at their highest point since the U.S. housing crash," he said in an interview Wednesday. "We are seeing record housing starts again, which is pushing lumber higher and also helpful for inflation," he explained. Gold, often viewed as a good inflation hedge, would benefit in a rising inflation environment. June Comex gold continued its rally Wednesday, hitting a high of $1,285.70 an ounce in after-hours trading.
This article is commentary by an independent contributor.
