Gold price could easily drop toward the 200-day moving average – between $1,500 and $1,600

Monday, September 19, 2011

Gold price could easily drop toward the 200-day moving average – between $1,500 and $1,600

Marc Faber : “ 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 .” - India-based Business Standard reported Faber saying at a Mumbai conference

Dr. Marc Faber Tomorrow's Gold

Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager.