Gold peaked at $1,921 an ounce in
September 2011. Since then, it has been in a correction mode. Sentiment
is bearish, but some countries are accumulating gold, notably China,
which will buy an estimated 2,600 tons this year, exceeding annual
production. Prices probably are bottoming.
Gold-mining shares aren't expensive
either, although many exploration companies won't make it. If you buy
the miners, look for companies that have raised capital already or have
sufficient reserves. They are best-positioned to survive the next few
years if there is no upturn in the gold price.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
 |
| Marc Faber |
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.