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(Kitco News) – Gold’s popularity among retail investors is set to soar, and this will push prices to $ 5,000 an ounce, said Rob McEwen, president of McEwen Mining.
“I don’t think $ 5,000 is that far. I look at the influence of social media and how far it has pushed some tech stocks and I will suggest that as people start looking to gold it will become a more common topic on social media, “he said.
McEwen said rising debt levels poses the possibility of sovereign debt default as a real risk for investors.
“The debt loads right now are pretty scary in the US and many other countries around the world as a result of what’s happening, which has to do with COVID. There is a threshold when debt to GDP reaches 130% of GDP, there is a very real probability of a default, “he said.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee this accuracy. This article is for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no liability for loss and / or damage resulting from the use of this publication.
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