Saturday, August 10, 2013

Marc Faber recommends these Gold Mining Stocks : Newmont Mining, Barrick Gold and IAMGOLD

Marc Faber : "I think there's one group of stocks that should appeal to people who say 'I want to buy low and sell high,' and this is the gold mining sector," "In general, the gold mining sector is incredibly depressed." "I like [gold] here relative to other assets—to paintings, to collectibles, the Manhattan high-end property, to Hamptons property, to the Dow Jones, the S&P, the Russell 2000. I think gold is relatively cheap," Faber said "All these supersmart Fed watchers and Fed members and superbears about gold, they came out with sell recommendations on gold—these are all people that never owned an ounce of gold in their life!" "Basically, gold has had a huge correction, sentiment is ultrabearish and the gold mining stocks have been decimated."Faber mentioned Newmont Mining, Barrick Gold and the boldly named IAMGOLD. "These are the names I would look at buying," he said.

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.


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