Gold's rally on Tuesday comes as equities took a hit, and the yellow metal is likely to see sustained momentum upwards, said Frank Holmes, CEO of U.S. Global Investors.
"Gold is above the 200-day moving average, 10-year is hitting 3%, last time it did this, it was below the 200-day moving average. It's flirting with the 50-day moving average, and I think the CPI numbers are going to be higher, and I think if that's all of a sudden going to pivot then gold will trade higher, so I remain bullish," Holmes told Kitco News.
Although Holmes is bullish on gold, he is also constructive on bitcoin, as he sees millennials moving their money into the crypto space going forward.
- Source, Kitco News
