The price of gold, which has fallen in recent weeks as part of a
broader market sell-off, has even further to fall, Marc Faber, author of the
Gloom Boom, and Doom Report.
"We overshot on the upside when we went over $1,900," said
the fund manager, who has 25 percent of his portfolio ingold.
We're now close to bottoming at $1,300, and if that doesn't hold it
could bottom to between $1,100-$1,120.
Faber, who said that the recent sell-off had come about following
nervousness about industrial metals, added that a 40 percent correction
wouldn't surprise him.
While
he is bearish in the long-term, he forecast a rebound in markets in the short
term .
Just See...........
1. Billionaire investor
George Soros's hedge fund dumped most of its gold holdings during the first
quarter, according to a securities filing .
Yes!!!!!!!!
Smartest People' Getting Out of
Commodities!!!!!
2.History suggests a
change in margin like that of the CME is a death verdict .
