The CEO of U.S Global Investors, Frank Holmes, said that investors should be investing in 24 K jewelry, gold stocks, and silver coins. Holmes has special expectations from gold. And Frank advises investors to go for the gold stocks because it seems so promising. Even though there is a fear of coronavirus still out, there is the market dropping, and the gold stocks are stable.
According to the reports last year, gold was at trading at $1,622.10, up 0.64% on the day. And now also gold is at $1600. But Frank Holmes has huge expectations from the gold industries and companies. He said that it might go as high as $1900. By the next few months, there might be a chance to see 2,000 an ounce price tag as early as this year.
The gold rally will remain sustainable throughout this year. It is what Frank Holmes predicts and ever so wisely because all the gold companies are in a stable state now. He also used the statistics of the past few years and expressed his opinions.
For the past 20 years, gold has been stable, and positive 80% of the time. So there are high chances, it will remain in that $1600 mark around the year. It may also increase or decrease, but the scale will stay the same throughout the year.
Holmes mentioned the good thing about gold is, it starts to rally when the global economy comes down. Even though other markets and metals are crashing, hold still makes it work. Other tuna gold the royalty companies are going to play a significant role, and bring stability.