$5000 gold 3-4 years away: Rob McEwen

George25

http://www.bnn.ca/News/2011/7/4/5000-gold-3-4-years-away-US-Gold-CEO.aspx

BNN.ca staff
4:07 PM, E.T. | July 4, 2011
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Gold bull Rob McEwen, the founder and former chairman of Goldcorp, reiterated his call for $5000 gold Monday, saying it will happen within three to four years.

The CEO of Minera Andes and U.S. Gold tells BNN the price of gold appears to be jumping, but “the last bit is going to go straight up a wall, much like the tech market did.”

He describes a change in investors’ attitudes towards owning gold as the price moves higher, where they start out not wanting to own it because they’ve never held it, and slowly decide that they have to jump in. “And that’s when we get this exponential slope,” McEwen says, but adds “We’re far from it right now.”

He anticipates five percent of the world’s financial assets will be invested in gold, an increase from the current level of one percent.