Robert McEwen, one of the gold’s industry’s best-known bulls, is predicting that the precious metal will continue to surge this year, closing 2017 much higher than today’s prices of around 1,290 an ounce.

The former investment banker, who for years have made bold predictions when it comes to precious metal prices, is sure that bullion will reach $5,000 an ounce, though, he warns, that won’t happen “immediately.”

“The metal is in an upward trend now and while it has years to go before it peaks, gold will continue to climb higher. It won’t be a straight line, but the direction is definitively up,” he told MINING.com.