U.S. Gold Corp sees gold rising above $2,000

Chief Executive Rob McEwen of Gold Corp says that he is expecting gold to reach as high as $2,000 during the year 2012 and will continue to rise in the next couple of years and predicts it could go as high as $5,000 in the next three or four years.

Thu Jan 12, 2012 11:50am EST
Steve James

(Reuters) - U.S. Gold Corp (UXG.TO) Chief Executive Rob McEwen said he expects global financial worries to push gold prices above $2,000 an ounce this year and even higher in the next few years.

"Gold (company) shares are undervalued and the gold price is going higher because of all the financial uncertainties. You will see a continued shift of investors putting more of their portfolios into gold," McEwen told Reuters on Thursday on the sidelines of the Dahlman Rose Emerging Miners Conference.

"It's on its way to $5,000 in the next three or four years," he added.

Gold futures in the United States were trading at $1,654 on Thursday. The futures hit a record high above $1,900 in September.

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