Fund Manager Favors Investing In Gold: CNBC

Frank Holmes, chief executive and chief investment officer of U.S. Global Investors, thinks that gold is likely to reach higher levels. In an interview with CNBC, he said, “We’ll get a bit of a correction as we go into the summer months, but longer-term, gold will trade much higher. Right now, the drama has to do with Greece.”

Tom Pawlicki, precious metal analyst at MF Global, echoed the same view point. He said, “There are rumors about an Italy downgrade so these things are going to continue and the safe haven bid is going to be maintained for gold.”