Gold is always there in the news. Market analysts love to analyze what’s happening to the gold market. Is the gold bull market over? It lasted more than a decade. Right now not many investors are bullish on gold. But McEwen Mining founder and chief owner Robert McEwen said Wednesday that he remains bullish on gold. He says that he expects the gold price to reach $5,000 per ounce in the next 3-4 years.
Now don’t get impatient to buy gold just now. Even if gold reaches $5,000 per ounce is not going to happen in the next few weeks or the next few months. It can take 3-4 years according to Robert McEwen. There will be many ups and downs and you never know if this will happen or not. No body know what lies in store for us tomorrow. Robert McEwen is betting big. If he wins, he wins big time and if he loses he is going to regret it too. As a trader and an investor always play it safe. Gold reaching $5,000 per ounce is highly unlikely in our opinion in the next 3-4 years. It can only happen is the US Dollar loses it’s strength drastically and there is a danger of it losing its international reserve currency status. The chances of that happening are very remote at this moment or in the next few years in our opinion.