Sunday, January 15, 2012

Continuing correction in Gold prices in 2012

Marc Faber : The worse the news gets, the more the U.S. and the European Central Bank and China will print money. In the past 10 years gold and silver have performed superbly. The gold price overshot on the upside when it reached $1,921 an ounce on Sept. 6. Now it is in a correction phase and could fall another $200. It is not that the gold price will go up. It is that the value of paper money will go down. Diversification is important, and people should put 15% to 25% of their assets in gold.

I wouldnt buy any Government Bonds as a long-term investment

Marc Faber : in my opinion, it's insufficient. but, you know, different people have different view. I wouldn't buy any french government bonds. and I wouldn't buy u.s. government bonds here either. but I admit that last year to the surprise of most fund managers 30-year u.s. treasury bonds gave you a return of 30% per annum . so you have a huge move in treasury yields on the downside. and so you had a tremendous capital appreciation on the bonds. and the 10-years appreciated by more than 10%. and I was kind of wrong about this. but I admit I just wouldn't buy them as a long-term investment.

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Sovereign Bonds

Marc Faber : well, I personally ... I am not interested in Sovereign Bonds except as a trade, but i think longer term you're going to lose money on sovereign bonds.

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