Gold $2,000 An Ounce By Next Year, Mining CEO Says; Looming Crises, Geopolitical Fireworks On Horizon For 2015

Sunday, December 28, 2014
By Paul Martin

Investment Banker/ Gold guru warns of “financial and geopolitical fireworks’, ‘many crises looming on the horizon for 2015’

By Martin Hill
December 28, 2014

Marketwatch reported Friday that gold surged to ‘$22.10, or 1.88%, to $1,196.30 an ounce on the New York Mercantile Exchange Friday,’ and that ‘Silver for March delivery SIH5, +2.39% gained 43 cents, or 2.7%, to $16.14 an ounce.’

However, several precious metals experts predict an increase in the price of gold in the coming year- with one prominent mining CEO predicting an almost double increase, to $2,000 an ounce by the end of 2015. Another chief economist at a prominent investment bank has predicted a rising gold price, ‘financial and geopolitical fireworks’ and ‘many crises looming on the horizon for 2015.’

On December 23, Kitco News reported Mining CEOs Agree, We Could See A 2015 Gold Supply Crunch:

“Rob McEwen, chairman and chief owner of McEwen Mining Inc. (TSX:MUX)(NYSE:MUX) told Kitco News that he expects gold to reach US$2,000 an ounce by the end of 2015, with that figure linked to less supply on the horizon. “We’ve seen a lot of the gold that went into the ETFs and this hoarding that occurred from 2005 to 2011, a lot of it has come out,” McEwen said. “ETF gold was a multiple or two of annual production at certain points during that period, and that gold has come out of the ETFs and gone to Asia. “So, the next time gold runs, there�s not as much gold available,” he said. “The supply of gold has been curtailed both through cutbacks and development projects � so there�s going to be a gap in production that could be three to five years long before it�s properly addressed.”

The Rest…HERE

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