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In a recent interview, investment guru Marc Faber explained that he doesn’t think gold is ever going below $1000 per ounce.<\/p>\n
From Faber:<\/a><\/p>\n <\/p>\n Basically we had a good move in gold whereby we had fluctuated for two-years between USD 800 per ounce and USD 1000 per ounce and now we’ve broken through the USD 1000 per ounce level with quite conviction and heavy volume. I believe that whereas in the past the USD 1000 per ounce level was kind of a resistance level, now it becomes a support level. I don’t think that you’ll see gold below a USD 1000 per ounce probably ever again So I’m actually quite positive. Maybe gold at this level is a better buy than it was at USD 300 per ounce in 2001.<\/span> <\/span><\/p>\n <\/p>\n Faber makes a number of other points in the interview:<\/span><\/p>\n <\/span><\/span><\/p>\n Stocks have come up very far, very fast. At this point the downside risk may outweigh any further upside potential, but the downside won’t be extreme. H<\/span>e says the S&P may decline from its current level to around 900 but is unlikely to break below low of 666. It may however go up to 1200 next year. <\/span><\/span><\/li>\n With rising demand in China and India for oil, and falling global reserves, there’s very little downside in oil.<\/span><\/p>\n <\/span><\/span><\/li>\n <\/span> <\/span>On the much talked about issue of the dollar carry trade, Faber says,he is not sure if there is a huge dollar carry trade. “I would short dollar currently, but hold gold,” Faber says. <\/span><\/span><\/p>\n <\/span><\/span><\/li>\n<\/ul>\n <\/p>\n <\/p>\n <\/span><\/p>\n <\/p>\n Read the whole thing>><\/span><\/p>\n <\/span><\/span><\/span><\/span><\/p>\n <\/span><\/span><\/p>\n Join the conversation about this story »<\/a><\/p>\n See Also:<\/b><\/p>\n In a recent interview, investment guru Marc Faber explained that he doesn’t think gold is ever going below $1000 per ounce. From Faber: Basically we had a good move in gold whereby we had fluctuated for two-years between USD 800 per ounce and USD 1000 per ounce and now we’ve broken through the USD 1000 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-47230","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/47230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=47230"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/47230\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=47230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=47230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=47230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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