The Gold price is cheaper than in the 1980s when it was around 400 dollars an ounce

Marc Faber : I have been writing every month that people should accumulate gold. Yes, there is more room for gold to appreciate further. Most people do not own gold. Most people think gold prices are very high. Today, the gold price is cheaper than in the 1980s when it was around 400 dollars an ounce, considering the increase in global monetary base and the US money printing.




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

Gold is an insurance against a systemic failure

Marc Faber : I think it is important for investors to understand the role of gold as an insurance against a systemic failure and not necessarily as a hedge against inflation. I should add that I own gold for both reasons, believing that it will perform well in both an inflationary and deflationary environment. In addition, I am not selling any gold but traders should realize the gold price is extremely overbought and that it could easily drop toward the 200-day moving average – that is, between $1,500 and $1,600 (not a prediction). As I just said, I am not selling my gold because I expect much higher prices in future. But, near term, both T-bonds and gold appear vulnerable to a more serious correction. - in Beacon Equity 




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