Commodities Corner: Top money manager says gold may hit $1,500 for the first time since 2013

Gold prices have climbed by around 8% year to date—close to what they gained for all of last year.

That comes as no surprise to Frank Holmes, chief executive and chief investment officer at U.S. Global Investors, and he sees lots of reasons why prices could rally further—potentially to as high as $1,500 an ounce. That would be a 20% rise from its current level of roughly $1,250.

In fact, a positive outlook for the gold is a key reason why U.S. Global Investors, whose Gold & Precious Metals Fund USERX, -0.41% has a 4-star rating from Morningstar, plans to launch its first gold exchange-traded fund this week.

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