Agoracom Blog

$5,000 Gold Says Rob McEwen, CEO of U.S. Gold

Posted by AGORACOM at 12:53 AM on Tuesday, September 28th, 2010

Rob McEwen, CEO of U.S. Gold, says gold prices will hit $5,000 once the buying frenzy reaches its full potential.  I’m not totally sold on $5,000 gold and have to concede that McEwen is horribly conflicted by the fact he is heavily invested in the space – but I have stated publicly several times that gold will experience a buying mania at some point in the next 24 months -  36 months.

Why? To Americans, gold is no different than dot-com stocks, real estate or any other hot asset “du jour” .  Specifically, once the American masses decide that fast money can be made in gold, they will pile into it and create a self-perpetuating upward spiral.

Whether it spins its way to $5,000 is anybody’s guess – but I don’t think we need anything more than $2,200 to send junior gold / precious metals stocks into the stratosphere.  If I had to guess, gold will land somewhere in the middle.

On the other hand, here is McEwen making his case for $5,000 gold.

Comments are closed.