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Friday, January 8, 2010
Marc Faber still hyper bullish on Gold
According to Bullionvault Marc Faber is still advising investors to buy gold even at the present prices Marc Faber believes that Gold is the most interesting currency people should invest in "Gold remains the best bet as a currency these days because of the fact that the yellow metal supply is extremely limited. Gold at the current price of $1110 per ounce is less expensive than when it was sold for less than $300 per ounce years back..."
He was reported as saying in his first 2010 interview
"A company's stock could be less expensive at $100 than when it was selling for $10, because earnings growth has outpaced the appreciation of the shares and therefore its price/earnings ratio has declined. So gold could be cheaper at the current price than when it was at less than $300 because of the explosion of foreign exchange reserves in the world, zero interest rates, the huge debt overhang, and the expectation of further money printing." He added
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