Gold’s Touchdown Pass: Jobs, Jobs, Jobs! - Frank Holmes

As MARKETS gear up for September, Frank Holmes joins Kitco News to talk about gold, which he thinks may see a boost next month. “Historically, when football season starts in September, gold is up,” he tells Daniela Cambone. He adds that opportunities may present themselves in the gold space, just like he thinks they are in the mining sector. Commenting on the announcement of billionaire investor Carl Icahn’s 8.5% stake in mining giant Freeport-McMoRan, Holmes says more ‘activist investing’ may take place in the sector. “I think it’s very significant when you look at the sheer size and change in that [Freeport] stock price from its lows,” he notes. Freeport’s stock price jumped 6.4% last Thursday when news broke of Icahn's acquisition of 88 million shares in just over a month. Looking ahead, Holmes says gold production may peak over the next five years, which may be constructive for gold prices moving forward. He also notes that Friday’s nonfarm payrolls report will be on his radar this week. Kitco News, August 31, 2015.