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Monday, April 21, 2014
Trouble in Asia will lead to higher Gold demand
I think, if the Chinese economy imploded, it is likely that the currency would begin the weaken (the Yuan). Or that the government would implement a devaluation of the Yuan. If that were the case, I think that Chinese individual investors would rather shift of their money in gold (which they can buy in China nowadays) then keep the funds in the local currency. I think that trouble in Asia and geopolitical unrest in Asia, along with [economic] problems in the rest of the world, may actually lead to higher gold demand rather than lower gold demand.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.