Will Gold Miners Have a 2016 Repeat?

Kitco News -- You could say gold miners struck gold in 2016. The group, as measured by the NYSE Arca Gold Miners Index, finished the year up 55%, handily beating all other asset classes, explained Frank Holmes, chief executive officer of U.S. Global Investors, to Kitco News on Tuesday. Miners were followed by commodities at 25% and silver at 15%. Gold finished up 8.6 percent, its first positive year since 2012, when it gained 7.1%, he said. 'M any in the financial media continue to have a bias against gold, even though it generated better returns in 2016 than 10-year Treasuries and the U.S. dollar, which performed half as well. And when it was up as much as 28% in the summer, they still didn't have anything positive to say, arguing it had gone up too much,' Holmes added. February Comex gold was last up 70 cents an ounce at $1,185.60. March Comex silver was last up 19 cents at $16.875 an ounce.

This article is commentary by an independent contributor.