Hey, miners, hold some gold - Frank Holmes on lessons from Bitcoin companies

Gold miners could use a little more conviction in the product they sell, said Frank Holmes, CEO and chief investment officer at @USGlobalInvestors .

In early June, Holmes spoke to Kitco Mining.

Gold has been hitting all-time highs in 2024, but the gold mining companies have lagged behind. The GDX, the gold mining index, is only up 12% year-to-date. Some enthusiasm for the metal the miners produce could help, said Holmes.

Holmes said gold miners are holding less gold on their books, unlike cryptocurrency companies.

"I think gold miners—like Bitcoin miners—have to show investors their conviction that they really like the product, and that they're going to own it," said Holmes. "You have many more crypto mining companies [that] actually own Bitcoin."

Coverage of the THE Mining Investment Event of the North is sponsored by EMX Royalty.

0:00 - Is it a coincidence that gold and Bitcoin went up together or are both assets being pushed up by similar market forces?
2:00 - In a Tweet you called gold “Bitcoin’s analog cousin”. What role do you see gold in relation to Bitcoin in years out?
3:15 - Why are mining equities lagging metal prices?
6:05 - Margins for the gold miners will be better in Q2?
9:52 - What can mining companies learn from cryptocurrency companies?
15:24 - Rate cuts by the Federal Reserve
17:08 - Copper vs. gold

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