Sunday, November 15, 2009

Gold to drop to 800?

Sunday, November 15, 2009

Gold could go bellow $800 says Marc Faber

Marc Faber Blog
In an Interview with Business Intelligence Middle East Marc Faber said that he has short term concerns about commodities,and that gold may drop to US$800 :
Faber also said that he is more negative about US bonds under a further deterioration of the economy than under a recovery, adding that 'inevitable' further economic weakness 'will lead to further fiscal stimulus packages and necessitate further money printing'.
"I would regard a failure to hold above the “upside breakout points” in the period directly ahead with great caution. In the case of gold a decline below US$1,000 would likely lead to further more meaningful weakness, possibly down to between US$800 and US$900," Faber added.
Read Article>>>


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