"Gold won't fall below $1000 ever again" - Faber (12min.)

[LargoWinch]

I have to say that the anchor is anything but like the dimwits we have to put up with on most major North American networks.

As discussed earlier on iTulip, Faber is contradicting himself here since he is warning about a possible gold correction in the $800-$900 range in his latest GDB report.

The following aired on November 16, 2009.

Part 1; 6min.



Part 2: 6min.

It has been a tumultuous phase for the markets globally in the recent past with major contractions in the private sector and huge stimulus packages. The question remains whether the markets are going to rally from here or is it bracing itself for a correction. Commenting on the same, Investment Guru Marc Faber says that the US economy did not respond well to stimulus packages. However, he adds, The asset markets responded well to stimulus. The US Fed is keen to push the asset markets.

[cjppjc]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

Don't we have a quote from him a week ago saying $800 soon? He makes so many predictions it's hard to keep clear.

[LargoWinch]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

Don't we have a quote from him a week ago saying $800 soon? He makes so many predictions it's hard to keep clear.

Jay had the best quote of all:

Gold will fall, unless it doesn't.

[touchring]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

Jay had the best quote of all:

Gold will fall, unless it doesn't.

This is even better:

Jim Rogers says gold prices could easily rise to $2,000 per ounce in the next ten years.

[jiimbergin]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

Don't we have a quote from him a week ago saying $800 soon? He makes so many predictions it's hard to keep clear.

http://www.shtfplan.com/marc-faber/m...tlook_11172009

Since there seemed to be a little bit of confusion, SHTF Plan contacted Dr. Faber, publisher of the Gloom Boom & Doom Report, and asked him to clarify these two reports and his outlook on gold. Here is Dr. Faber’s response, provided to us November 13, 2009:

“What I said and also wrote in my last report is this:
If the gold price breakout move above $ 1000 is real then gold should not decline again below the $950 - $1000 zone. Before, this range was resistance and now it should be a support range.
However, if gold dropped below this range than I would be very concerned that a decline to around $ 800 could take place.
I have consistently repeated that I hold gold and that I recommend the accumulation of gold.”

[touchring]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

Don't we have a quote from him a week ago saying $800 soon? He makes so many predictions it's hard to keep clear.

I find that his predictions had been quite clear, accurate and forthcoming the last 1 year or so. Quite an honest chap, a rarity among anal-ysts.

[cjppjc]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

I was fooled by this thread:

http://www.itulip.com/forums/showthr...ber#post133243

I should have read the links. Lazy on my part. He did say only if gold broke below 950 would he expect a move to lower levels.

[LargoWinch]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

I was fooled by this thread:

http://www.itulip.com/forums/showthr...ber#post133243

I should have read the links. Lazy on my part. He did say only if gold broke below 950 would he expect a move to lower levels.

cjppjc; I you did not see the link in my original post? Poor me, all that work... and no one click on it? ;)

[cjppjc]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

Man! cjppjc; I took time to link this in my original post...pfff...oh well.

I'm not sure what you mean. I had already seen the thread. I just did not take the link in which he makes his if below 950 prediction.

[LargoWinch]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

I'm not sure what you mean. I had already seen the thread. I just did not take the link in which he makes his if below 950 prediction.

I was jokingly refering the link...but forgot the all essential ;)!

[Slimprofits]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

I'll take a slight more conservative stance and repeat what I've said already in the last month - Gold won't fall below $900 ever again.

When the USDX traded up to $77 and oil traded down to WTI $65-66 on 9/24 and 9/25, just two months ago, gold saw a MASSIVE (sarcasm) move down from $1010 down to $990 and traded at that amount for four long days. The days of $800 have long since passed. Anyone waiting for that correction should have instead taken a dive head first into oil on 9/25.

[Raz]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

cjppjc; I you did not see the link in my original post? Poor me, all that work... and no one click on it? ;)

Now you know how I feel. I post research on the Resources Threads and very few bother to read it - and practically no one ever thanks me. Oh, Boo-hoo-hoo!

[metalman]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

we went from 'gold will never hit $1000' to 'gold will never fall below $1000' in... what... 2 yrs?

[Jay]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

Now you know how I feel. I post research on the Resources Threads and very few bother to read it - and practically no one ever thanks me. Oh, Boo-hoo-hoo!

Thanks Raz, I appreciate the links.

[LargoWinch]

Re: "Gold won't fall below $1000 ever again" - Faber (12min.)

Now you know how I feel. I post research on the Resources Threads and very few bother to read it - and practically no one ever thanks me. Oh, Boo-hoo-hoo!

Raz, I do appreciate as well...you are both a gentleman and a scholar!