Tuesday, October 4, 2022
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US Global Investors CEO claims Gold to be greatest asset in high-stress climate

With Russia initiating airstrikes on Ukraine, Frank Holmes, CEO of US Global Investors, says gold is the greatest asset to acquire in the high-stress climate.

In an interview with Kitco News, Holmes claimed that gold has a long history of serving as a safe haven asset during times of war and political unrest. He cautioned that the market should not see gold’s dismal performance in 2021 as a cause to avoid the asset. Despite the fact that Bitcoin is developing as a significant alternative, Holmes noted that the asset has yet to prove itself, given that it is still a young asset class. 

However, Holmes believes that if Bitcoin overcomes a number of roadblocks, such as legislation, it will supplant gold as the preferred safe haven.

Given the current climate of high inflation and the possibility of interest rate hikes, the CEO believes gold is undervalued. He feels the price of gold should be approximately $4,000 per ounce. He does, however, anticipate a target price range of $2,500 to $3,000. In addition, Holmes hinted that Bitcoin and the crypto markets might not take off as quickly as gold. He claims that regulatory clarity is still the biggest issue hurting Bitcoin, especially with the G7 countries setting the standard for how to manage digital assets.

In a recent interview, Holmes predicted that gold will climb in 2022, but that Bitcoin would likely beat the precious metal, owing to millennial demand.

Will you be buying Gold after reading this? Comment below.

Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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