Tuesday, January 8, 2013

Marc Faber : Gold may correct 10%

Marc Faber : "I don't think [gold] will go up right away, and we maybe have a correction of 10 percent or so on the downside," "But I see that governments will print money … so I want to have gold as an insurance policy."the publisher of The Gloom Boom & Doom Report said in a "Squawk Box" interview."... perhaps down to between $1550 and $1600 … I intend to increase my gold position on any further weakness although I am concerned that U.S. dollar strength could be a headwind for a strong gold rally.""Money will shift from some of the relatively high-valued markets into markets that had a horrible performance," he said. "So as an investor, if you need to own stocks, then I'd be in Vietnam, in China and in Japan.""I am also mindful that corporations and wealthy individuals are cash rich and since there are very few promising investment opportunities aside from equities, they might one day shift their considerable liquid assets into stocks.""I'm not liquidating everything, but I have a lot of cash."


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