Gold could still weaken a bit

On the current Gold weakness, "I don't think gold will go up right away, and we maybe have a correction of 10 percent or so on the downside," "But I see that governments will print money … so I want to have gold as an insurance policy." Based on his recent market commentary newsletter, Faber puts a price range on his gold call: "... perhaps down to between $1550 and $1600 … I intend to increase my gold position on any further weakness although I am concerned that U.S. dollar strength could be a headwind for a strong gold rally."

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