Canadian gold mining magnate Rob McEwen says either Trump or Clinton are “positive for gold” and that prices could rise to between $1,700 and $1,900 per troy ounce by year end as uncertainty builds around the stability of global currencies and sovereign debt.
The comments above and below are excerpts from an article by Mark O’Byrne (GoldCore.com) which may have been enhanced – edited ([ ]) and abridged (…) – by munKNEE.com (Your Key to Making Money!) to provide you with a faster & easier read.
…[According to] Bloomberg, in a speech given at a gold conference in Colorado Springs this past Tuesday:
- McEwen believes record-low global interest rates will cause a “huge amount of anxiety” for investors…[causing many of them to] turn to gold as a store of value and an alternative asset..
- [As such,] “McEwen is betting big on gold. As the chief executive officer of his eponymous company, he’s paid $1 a year and doesn’t receive bonuses, wagering that his share holdings will reap him ample rewards…
- McEwen, who expects bullion could reach $5,000 in four years, made bold predictions for [higher] prices….in 2009 and 2011…[but,] this time, McEwen expects a number of catalysts — from the U.S. election to instability at banks — could make his prediction come to fruition saying:
- “You have many more people involved in the market than you ever have before — crowd psychology is there. Reasons for anxiety are multiple than what we’ve had in the past and there will be a triggering event.”
- …McEwen believes that no matter which candidate wins over the U.S. populace when voters take to the polls in November, it will be positive for prices…[saying]:
- “Hillary has got a very accommodative platform. She’s made promises to every group you can imagine in the United States to give them money.
- Trump is less expansionary, but he’s unnerved a lot of people with his statements, so they don’t really look at his policies, they look at his rhetoric.”
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