MUX:CC - McEwen Meding: Gold Sector Poised to Move Copper Crunch Keeps Building

2024-06-05 16:55:00 ET

Rob McEwen of McEwen Mining (TSX: MUX ,NYSE:MUX) and Michael Meding of McEwen Copper sat down to speak about the outlook for gold and copper, as well as news from their respective companies.

Looking first at gold, McEwen said it has space to move higher in 2024, and pointed to eye-watering predictions from a number of market participants. Citi is calling for US$3,000 per ounce before the end of 2024, while Bloomberg Intelligence expects US$7,000 by 2025 . Meanwhile, Pierre Lassonde has given a US$19,000 to US$20,000 target .

"The whole sector has been underinvested for quite awhile, and I think it's poised to move," he said. "Inflation isn't going away, and even when interest rates rose in the late '70s and early '80s gold was climbing. So I think it's heading higher."

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