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Regardless of a damaged economy, supplies continue to increase on the back of financial stimulus, which is bound to push gold costs also greater, this according to Frank Holmes, CEO of U.S. Global Investors.
Supplies are increasing "due to the trillions as well as trillions of dollars of money publishing from the helicopters of main lenders. The G20 main lenders, the G20 finance ministers, that's a cartel, like OPEC," Holmes told Kitco News.
Fundamentally, gold's supply shortage ought to also provide tailwinds, Holmes claimed.
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Gold prices going to “pop” to $2,700, easily – Frank Holmes
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.
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