“I think when rates are going to peak next quarter, and we got an election year next year and when rates start falling, gold will be $2,300,” says Frank Holmes, CEO and chief investment officer for U.S. Global Investors. He acknowledges while gold provides a lot of value for investors during times of uncertainty, crypto sparks a “different enthusiasm” for folks to trade globally and digitally. “Kids have CPU chips. There were 30 million kids using their computers to do their homework, gaming, and when they go in bed, they were mining Ethereum,” he says.
When it comes to the BRICS, Frank points out that he wouldn’t worry too much about it gaining power because many BRICS nations have a “closed economy” unlike the U.S. “How many California wines can you find in Italy?” he asks, suggesting that BRICS countries have protectionism over products like wine the same way they do with money. “Look up, that’s how high gold prices will rise when rates fall, and mathematically, rates are falling next year. Gold will get a reset button,” he concludes.
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