Marc Faber, editor of the Gloom, Boom and Doom Report says the 18-month correction in the price of gold isn’t over yet, but we’re close enough that those seeking to insure themselves against an economic meltdown should start building positions now.
“We haven’t completed the correction which began in September of 2011,” Faber tells Breakout in the attached video. The price per ounce of gold has fallen but there’s still too much speculative money in precious metals for a sustainable rally. “Sentiment for gold is improving in the sense that more and more advisers and investors are turning bearish,” he says.
Still, Faber doesn’t care what price gold is trading at right now. To him it’s not a speculativevehicle but an insurance policy. As such, not owning it all times is simply reckless in his view.
See the full Breakout video below:
February 15th, 2013 – ETF Daily News