EXHIBIT 32.1 - CERTIFICATION OF CHIEF EXECUTIVE  OFFICER PURSUANT TO SECTION 906
               OF THE SARBANES-OXLEY ACT OF 2002



Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and
(b) of Section 1350, Chapter 63 of Title 18, United States Code), the
undersigned officer of U.S. Global Investors, Inc. (the "Company") does hereby
certify, to such officer's knowledge, that:

The Quarterly Report on Form 10-Q for the quarter ended March 31, 2004, of the
Company fully complies with the requirements of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934 and information contained in the Form 10-Q
fairly presents, in all material respects, the financial condition and results
of the operations of the Company.





Date: May 17, 2004         /s/ Frank E. Holmes
                           -----------------------
                           Frank E. Holmes
                             Chief Executive Officer