US Gold CEO sees $5,000 gold, $200 silver within three to four years
Posted on 23 June 2011 with 4 comments from readers
US Gold CEO Rob McEwen is talking his own book but then so is ArabianMoney whose editor is also the author of ‘Dubai Sabbatical: The Road to $5,000 Gold’ published 15 months ago (click here).
He thinks gold will show a similar increase in price to the 1970s in this gold boom and that takes the precious metal to $5,000. But if silver gets to $200 as he predicts that would be a five-fold rise from present prices compared with three-times for gold.
US Gold is creating a rival to Newmont as the only S&P 500 precious metals company. Tomorrow ArabianMoney will have a look at whether gold stocks or bullion are the better investment, and we will be considering again how best to invest in silver in the next newsletter (sign-up here).
Gold is up 70 per cent and silver by over 100 per cent since the publication of ‘Dubai Sabbatical: The Road to $5,000 Gold’ – no other investment class comes close!
4 Comments posted by readers:
Think debt can be paid down? Check these #s out.
EXTERNAL DEBT AS % OF GDP DEBT PER CAPITA
USA 98% $45,302
Hungary 120 $22,650
Australia 121 $48,787
Italy 167 $42,267
Greece 167 $51,916
Germany 177 $60,357
Spain 177 $59,459
Norway 209 $119,805
Finland 215 $73,082
Hong Kong 225 $96,142
Portugal 231 $50,230
France 244 $79,982
Austria 251 $98,554
Sweden 270 $98,664
Denmark 307 $110,502
Belgium 327 $120,267
Netherlands 370 $145,928
Switzerland 379 $156,694
UK 429 $149,281
IRELAND 1,305 $535,529 OUCH!
I get a charge out of these great experts telling all that gold and silver will be at astronomical prices…in 3-4 YEARS. Who cares? 3-4 YEARS? We’re interested in 3-4 months, not YEARS. By that time, 3-4 years, their brave predictions will be long forgotten, unless they are right, then they’ll hype how predictive they were.
Give me a break… How about predicting 3-4 months from now so we can make some sort of calculation for investing in the NEAR future, not the FAR future. People who read this need some real-time thoughts and ‘experienced’ intelligence. For heaven’s sakes, I can make those predictions and my friends will look at me in awe…WOW! what does she know that we don’t know… Just hype, my friends, just hype…just like the ‘experts’.
I don’t understand why Rob McEwen accepted the interviewer’s statement that gold has no intrinsic value, no value in itself because it can’t be used for anything.
Surely gold has intrinsic value because it can be used for storing monetary value. In addition to being a hedge against inflation, it has a supply & demand value.
It has intrinsic value because when you sell it, you can buy manufactures or property, for examples.
To say it has value only when it is used to make jewellery seems to me to be ridiculous. Jewellery has value to the wearer because it increases their self-esteem and sense of well-being.
Gold in ingots also has value to its owner in exactly the same way that jewellery does: it raises the self-esteem and sense of well-being.
Maybe gold and jewellery raise the self-esteem and well-being in different ways from each other, but that does not matter. They both have value to the owner for making him or her feel better about living on this world.
So, why this timidity amongst gold bugs that gold has no intrinsic value? It most definitely does! As food makes a person feel better, so does wealth. And if that wealth is stored up in bullion as opposed to shares in a company, it still makes a person feel better.
@ Bill, Near Slidell:
I’m sure the debt data by country is true for most countries. . . but it is nowhere near accurate for Greece.
Greece has approx. $550 billion of outstanding government debt (and that number is growing rapidly!). The IMF folks, working together with the Greeks last fall, determined that, in addition to the $550 billion, the government owed another $800 billion or more in pensions. A very conservative total total puts total debt at $1.3 trillion.
That comes to approx. $ 250,000 US dollars for every Greek who has a job . . . a tremendous burden that Greek citizens simply can not bear.