Sunday, October 27, 2013

Marc Faber on Gold, Gold Miners & China

Marc Faber’s latest thoughts in this interview with Barron's….


 
Barron's: You have said stocks could be dead money for awhile, but not so gold. What's next for the yellow metal?
Faber: Gold peaked at $1,921 an ounce in September 2011. Since then, it has been in a correction mode. Sentiment is bearish, but some countries are accumulating gold, notably China, which will buy an estimated 2,600 tons this year, exceeding annual production. Prices probably are bottoming.
Gold-mining shares aren't expensive either, although many exploration companies won't make it. If you buy the miners, look for companies that have raised capital already or have sufficient reserves. They are best-positioned to survive the next few years if there is no upturn in the gold price.

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

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

LinkWithin

Related Posts Plugin for WordPress, Blogger...