Friday, September 26, 2014

Marc Faber : Gold Has Bottomed

In an Interview with FOX Business Network Dr. Marc Faber said that Gold Has Bottomed and that the geopolitical issues may well stretch beyond Iraq and Gaza
“basically I always own some shares, most of my shareholdings are in Asia. … I would own some gold, because I think the gold market has bottomed out. Year to date the junior gold mining index is up 40 percent.”

“There has been some reaction [in Europe] but there hasn’t been much reaction in the U.S. yet,” he says. “I think that geopolitical issues will become more important. At the present time what is dominating the geopolitical discussion is what is happening in the north of Iraq, ISIS and in the Gaza stretch and in Syria but it could spread out to Saudi Arabia. Because, don’t forget Saudi Arabia is a huge border with Iraq and also it could spread out into Turkey and then it obviously wouldn’t be very favorable for global trade.” “basically I always own some shares, most of my shareholdings are in Asia. … I would own some gold, because I think the gold market has bottomed out. Year to date the junior gold mining index is up 40 percent.”


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.

No comments:

Post a Comment

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

LinkWithin

Related Posts Plugin for WordPress, Blogger...