Silver price to rise 1,000% as gold hits $5k by 2027, governments to

Silver price to rise 1,000% as gold hits $5k by 2027, governments to 'debase' their currencies - Rob McEwen RobMcEwen gold Fed

- Gold is set to hit $5,000 per ounce by 2027, taking silver to $250 per ounce, according to Rob McEwen, Executive Chairman of McEwen Mining.

Speaking at the 2023 BMO Metals, Mining, & Critical Minerals Conference with Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, McEwen said that as a"student of economic history," he sees gold and silver rising as Western governments"debase" their currencies due to excess fiscal spending.

As automakers seek to produce more electric vehicles, greater vertical integration and supply-chain consolidation will occur, according to McEwen, who sees car manufacturers gaining direct control over the critical metals required for electrification, such as copper and lithium. In January, Tesla CEO Elon Musk tweeted that"no change in copper production is required for the transition to sustainable energy," despite pressure worldwide to move towards electrification and so-called green sources of energy like wind and solar power.

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