KITCO NEWS - Gold's (GLD) - Get Report rally seems to be fading but Frank Holmes, chief executive officer of U.S. Global Investors, suggests that this may just be another buying opportunity for gold investors. Gold prices are modestly lower on Monday with the bulls having faded a bit recently. June Comex gold futures were last down $3.20 an ounce at $1,249.60. With a rate hike now a possibility by next month after so many discounted it, Holmes suggests that gold will continue to be hurt until the next Federal Open Market Committee meeting in June.
This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.