While gold has stagnated recently, fluctuating in a range of $1,250 to $1,350 an ounce since mid-March, Robert McEwen, chief owner of McEwen Mining, hasn't given up on the precious metal.

"I'm a long-term believer in gold, and I see it ultimately getting to $5,000," he tells CNBC. "Anything short of that, I wouldn't be hedging."

He thinks gold will reach that level within the next four years.