The Conversation (0)
Frank Holmes of US Global Investors told INN that the gold price could reach US$2,000 per ounce in the next 18 months.
The Investing News Network sat down with Frank Holmes of US Global Investors (NASDAQ:GROW) at this year’s Vancouver Resource Investment Conference to talk about gold, platinum and palladium, and what’s next for precious metals.
“Last year, the stock market sold off in the last quarter of the year. This year is up — gold is up, emerging markets are up almost the same as the S&P 500 (INDEXSP:.INX) — so there’s much more interest in capital formation,” he said.
Holmes also shared his thoughts on the factors that have been impacting gold this year.
“Gold is in a bull market and it’s been in a bull market since two years ago,” he said. “Gold climbs a wall of ‘not believing’ — most people don’t believe.”
For Holmes, gold prices could reach US$2,000 per ounce in the next 18 months. “It could also be US$10,000. But unlike before where there’s a crisis, (now) it’s the money printing.”
Speaking about juniors miners, he said they might struggle unless they have something new, and that’s why he is interested in artificial intelligence and companies such as Goldspot Discoveries (TSXV:SPOT).
He also said it is still a good time to invest in platinum and palladium and explained why he thinks those metals are essential for the future.
Watch the video above for more of Holmes’ thoughts on gold and precious metals investing in 2020. You can also click here to see our full VRIC playlist on YouTube.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Goldspot Discoveries is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
