Tuesday, July 8, 2014
Marc Faber Outlook for Gold & Silver July 2014
ET Now: How do you see gold and silver prices moving after the easy monetary policy from both the FED as well as the ECB?
Marc Faber : Basically, we began the year after a meaningful correction from $1921 in September 2011 and we traded down to a low of $1180.
At the beginning of the year, we were at $1200 and then we rallied to $1393 and since then, we have had a correction again to around $1200 and now we have rallied again.
My sense is that this latest rally has been accompanied by a lot of scepticism among investors and a lot of negative sentiment. In other words, people are not buying the bull market yet and this is a good sign. I would be accumulating gold from here onwards down to around $1250. - in ET Now July 2014
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.
Posted by Nicole Bourbaki