Gold prices are on the cusp of an enormous break to the upside with a target of £4,194 ($5,000) expected by 2027. This figure, giving by Rob McEwen, the executive chairman of McEwen Mining will be made possible by the continuing weakness of the U.S. dollar.
A gold industry veteran of more than forty years, McEwen expects to see currencies devalued around the world as nations continue to grapple with huge post-pandemic debt. He said, “Hard assets will increase in value as the dollar drops in relative value to other currencies, because governments are irresponsible. Look at the amount of the debt most of the Western world has right now, it’s enormous. Governments try to get out of their debt by debasing their currency, and we’re going to see a huge wave of that. We’re in an unprecedented period.”
McEwen says he is already taking steps to increase his own portfolio of gold, with the expectation that prices will more than double over the course of the next four years. Don’t hesitate to follow a similar course of action. Buy now to position your own portfolio for success.
