Could gold easily reach $2700? One industry expert has said just that this week. The CEO of investment management company, US Global Investors has suggested that monetary policy made to fight coronavirus could ultimately fuel huge gains for the precious metal.
Frank Holmes says that we’re seeing some stocks, which have suffered heavy blows as a result of shut down economies showing signs of recovery as a result of the massive financial stimulus packages. The trillion dollars of aid are artificially boosting prices he says, which is good news for gold. “Last year, as I’ve mentioned, everyone was surprised that palladium could go from $1,000 to $2,700, and I said short-term, why can’t gold do that? We’re going to see gold pop. $2,700 is easy for me to see that.”