Kitco News, Released on 4/29/20
Despite a weakened economy, stocks continue to rise on the back of monetary stimulus, which is bound to push gold prices even higher, this according to Frank Holmes, CEO of U.S. Global Investors.
Stocks are going up “because of the trillions and trillions of dollars of money printing from the helicopters of central bankers. The G20 central bankers, the G20 finance ministers, that’s a cartel, like OPEC,” Holmes told Kitco News. Fundamentally, gold’s supply deficit should also provide tailwinds, Holmes said.
Frank Holmes is the CEO and chief investment officer of U.S. Global Investors, Inc., a boutique investment advisory firm based in San Antonio that manages domestic and offshore funds specializing in the natural resources and emerging markets sectors.
Gold prices going to “pop” to $2,700, easily – Frank Holmes added by Herman James on
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It is not very likely in a deflationary economy to have gold spike above $1800 unless we have social unrest. To date most of the printing has been allocated to cover loses on $ already in the economy and to shore up solvency of financial institutions. The velocity of the dollar continues drop after peaking in 2018.