ROB MCEWEN: SILVER TO $200, GOLD TO $5,000 IN NEXT 4 YEARS
NOVEMBER 25, 2012
Bloomberg’s Lunch Money segment featured an interview with McEwen Mining CEO Rob McEwen discussing his outlook on the gold and silver markets.
McEwen points out that the dollar has lost 85% of its purchasing power in the last 11 years in terms of gold. When questioned regarding his price outlook, McEwen stated that over the medium term, gold is headed to $2,000 certainly next year, and that silver will test $50 again when gold reaches $2,000.
For his long term outlook, McEwen states that gold is headed to $5,000 and silver to $200 in the next 4 years (we agree with McEwen on that timeline, as would the legendary Jim Sinclair).
McEwen states that its getting harder to find and mine gold and silver, mainly due to government risk of more regulations, and higher taxes. As does SD’s own SRSrocco, McEwen also points out that ore grades are declining, and that many mining projects are not coming on as advertised, and will be curtailed, greatly decreasing the supply for gold and silver in the coming years.