3 'Gift Giving' Gold Stocks For a Portfolio: Stock Picker
September may historically be known as the worst month for stocks, but it’s the best for gold. Frank Holmes, CEO and CIO of U.S. Global Investors told investors how they can benefit from trading gold stocks.
“Several stars align for different holiday seasons,” Holmes told CNBC. “Right now, it’s Ramadan, and we’re going to have the post-monsoon rain, so in India, they go back to start buying gold for the wedding season."
"And then we have the festival of lights, Diwali, which is a very significant gold buying and gift giving [occasion], then you have Christmas where restocking is taking place for Christmas shopping and then you have the Chinese New Year,” he said.
Additionally, Holmes said gold demand is starting to climb around the world.
“There’s news out today that one of the largest jewelry store chains in India is seeing gold demand picking up because the fear of a recession is going away so people are spending money,” he said.
Holmes recommended the following companies to investors.
No immediate information was available for Holmes or his firm.