(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.
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