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.