As for gold, the expert said that central banks around the world continue to try to fight inflation by raising interest rates, which is generally seen in the market as a “headwind” for the yellow precious metal. However, in his opinion, this is not entirely true. “Too many people look at rising interest rates and say it's negative for gold. I think this is very positive for gold,” McEwen said.
Meanwhile, the speculative sector came under pressure, he said. Therefore, he advises keeping more gold in physical form outside the banking system. He advises frustrated gold owners to be patient and buy more gold at lower price levels if necessary.
As for copper, he predicts a large shortage of this metal in the market, despite fears of a recession: "Most, if not all, of the reports that I saw spoke of a large shortage of copper in the near future." On this he went on to say: “When you combine a shortage with an extended production start date, there are very optimistic copper price forecasts. Copper is the metal for electrification."