Tweet
Nov. 11 (Bloomberg) -- Gold won’t fall below $1,000 an ounce again after rising 27 percent this year to a record as central banks print money to help fund budget deficits, said Marc Faber, publisher of the Gloom, Boom & Doom report.
http://www.bloomberg.com/apps/news?p...d=az6qQ8ZuXg9M
http://moneynews.newsmax.com/streett...11/284839.html
http://www.bloomberg.com/apps/news?p...d=az6qQ8ZuXg9M
Marc Faber: Gold Will Fall to $800 | ||
| ||
| Gold prices will dip in the short term, falling to $800 an ounce from current values around $1,100, says investment guru Marc Faber, author of the Gloom, Boom & Doom Report. The U.S. economy will require further stimulus packages, which will weaken the dollar, thus making government debt also a bad investment choice in the short term, Faber says. Commodities such as oil and gold have been rallying on a weak dollar, but that will change as prices must correct, he says. Gold has soared as high a $1,111 mark, but Faber says those prices will slip while the dollar is due for a rebound, at least in the short term. “In the case of gold a decline below $1,000 would likely lead to further more meaningful weakness, possibly down to between $800 and $900,” Faber wrote in his column. | ||
http://moneynews.newsmax.com/streett...11/284839.html
Comment