Marc Faber: Physical Gold Headed to New Highs

Hard Asset Investor interviewed Marc Faber last week to get his opinion of where the stock market and gold price are headed. Unsurprisingly, the publisher of the Gloom, Doom & Boom Report thinks the stock market is preparing for a large correction and gold is destined for an epic bull rally. Most importantly, he emphasized that investors should buy physical gold – not paper gold assets.

“We have had a meaningful correction [in gold]. From $1,921 in September 2011 to less than $1,200 at the bottom is a fairly large correction. But in longer-term bull markets, these kinds of corrections do occur. We had a 40-50 percent correction in 1987 in equity markets. But the bull market lasted until the year 2000.

Looking at the fundamentals, looking at how debt will continue to increase and how central banks will continue their monetization not only in the U.S. but on a worldwide scale, I assume the price of gold will trend higher. Most likely we’ve seen the lows below $1,200.”

Read the Full Interview Here

marc faber

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