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Frank Holmes: Gold Facing Pent-up Demand, Can Easily Hit New Highs

The gold price looks set to end 2023 on a high note, but what will the new year bring?

Frank Holmes, CEO and chief investment officer at US Global Investors (NASDAQ:GROW), thinks new all-time highs are easily in reach in 2024. He sees falling rates and strong demand as important catalysts for the yellow metal.

"The fact that some (interest rates) hit 40 year highs put a dent in gold, but if you went back ... and you did the perfect inverse relationship of rates rising (and) gold falling, it suggests gold would have fallen to US$1,500 or US$1,400 — it didn't," he explained to the Investing News Network. "It actually held itself so well that now rates are starting to fall, gold can easily go to US$3,000, US$4,000. I think it's a suppressed, oppressed market that's extremely attractive."

Watch the interview above for more from Holmes on gold, as well as his thoughts on silver.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: 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.


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