Sunday, January 15, 2012
Continuing correction in Gold prices in 2012
Marc Faber : The worse the news gets, the more the U.S. and the European Central Bank and China will print money.
In the past 10 years gold and silver have performed superbly. The gold price overshot on the upside when it reached $1,921 an ounce on Sept. 6. Now it is in a correction phase and could fall another $200.
It is not that the gold price will go up. It is that the value of paper money will go down. Diversification is important, and people should put 15% to 25% of their assets in gold.
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The gold buy craze has been prompted by the radio show and TV personalities who we trust and are sponsered by the gold traders.
ReplyDeleteHehe, where I am I see heaps of "we buy gold" signs by companies the the individuals I talk to still give me a blank stare whenever I mention gold.
ReplyDeleteThe "buy craze" promoted by TV was pretty short and only happened when gold moved from $1650 to $1920. As for mania that would be the smallest mania ever heard off.