Mike McGlone, Bloomberg Intelligence’s senior commodity strategist, predicts that gold’s current rally may just be the beginning of bullion’s rise and that the precious metal could be headed to a price of $4,000 for each ounce.
As a result of these conditions, McGlone says a lot of capital is moving to gold as bonds and stocks lose their appeal. He adds that if the current surge of gold continues, increased investor interest is bound to be directed towards gold mining firms. As that happens, companies like Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) with gold-rich properties could see increased capital injections into…
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