Today again not only did gold hit another record above $1,500, we're at 1,510 right now. just for the past month gold up nearly 6%. But could this precious metal reach $5,000 an ounce in the next few years as forecasts Rob McEwen, US Gold Corp. CEO ? .
Rob McEwen, is chairman and CEO of u.s. gold, is forecasting gold at $5,000 an ounce in the next three to four years. : " ... we've seen it in the last 110 years happen twice before and this is the third time that gold is a favorite asset relative to equities and other assets. in terms of -- in times of financial stress, you have people going towards the precious metal. " " ... we've had 30 years of credit expansion of the likes we've never seen before in the world. and currencies have been the base and gold is money. it's the ultimate currency. and that's why people are starting to move to it. but you only have about 1% of the financial assets in the world represented by gold right now "
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
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