KITCO NEWS - There's something off in the gold market.

This according to U.S. Global Investors CEO Frank Holmes, who told Kitco News he thinks the price just "doesn't make sense."

"Governments and central banks are manipulating interest rates, it's very evident," he said following the release of the latest Federal Open Market Committee minutes Wednesday. "They move interest rates around so there's no doubt they can do this with gold." Holmes added that manipulation - or "price suppression" - would be a way to explain why the yellow metal has been unable to hold on to recent rallies. "It's amazing that it is what it is."

Watch More with TheStreet:

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.