Will Gold Miners Have a 2016 Repeat?

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from Kitco NEWS

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 percent, 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 percent and silver at 15 percent. Gold finished up 8.6 percent, its first positive year since 2012, when it gained 7.1 percent, he said. ‘Many 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 percent 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 $0.70 an ounce at $1,185.60. March Comex silver was last up $0.192 at $16.875 an ounce.

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