Money ‘Tsunami’ May Spur Quadrupling of Gold Prices, McEwen Says
Gold bars, worth hundreds of thousands of dollars each, sit in a vault at the United States Mint at West Point in West Point, New York, U.S.
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Gold has bottomed out and may be set to soar, according to one of the industry’s biggest bulls.
Prices could surpass $5,000 an ounce in five years, from about $1,280 now, as investors seek returns amid a prolonged period of cheap money and use the metal as a haven from geopolitical and financial risk, McEwen Mining Inc. Chief Executive Officer Rob McEwen said.