Frank Holmes: Gold Advice as Price Falls - Buy the Dip and HODL

9.26.22 - Frank Holmes: Gold - Buy the Dip and HODL

Gold last traded at $1,625 an ounce. Silver at $18.38 an ounce.

NEWS SUMMARY: Precious metal prices steadied Monday on bargain hunting despite a firmer dollar. U.S. stocks fell as surging interest rates and foreign currency turmoil threatened to push the S&P 500 to a new closing low for the year.

Investing News--"Speaking to the Investing News Network, Frank Holmes, CEO and chief investment officer at US Global Investors, pointed out that the yellow metal's decline is a buying opportunity.

'Buy the dip and hold on for dear life, as the crypto kids say - HODL,' he said. HODL (Hold On for Dear Life) is a term that originated in the cryptocurrency community, although it's since gained mainstream usage through popular memes.

Even as the gold price dips, Holmes said that physical demand for the yellow metal is high, and gold companies continue to produce strong results. 'A lot of the gold stocks are doing well - 60 percent of the gold producers have free cash flow,' he said, noting that this is a crucial element for him.

Speaking to the Investing News Network, Frank Holmes, CEO and chief investment officer at US Global Investors (NASDAQ:GROW), pointed out that the yellow metal's decline is a buying opportunity."