Marc Faber Forecasts Gold Will Go Down for the Next Three Month (video)
By seekinGold
June 30, 2011 11:50 PM
June 30, 2011 11:50 PM
Marc Faber believes that the commodities bull market is intact but in mid-term he expects gold and silver will go down for the next three-month or so. Despite his forecast, he is not shorting gold but in fact accumulating more. “Not to own any gold is to trust central bankers, and that you don't want to do” he said on his interview with Bloomberg. See the clip below.
Why three month? Now that QE2 is over, maybe Marc Faber thinks that's what it takes for Bernanke to start QE3 as market falls. All it takes is couple more bad economic data and election's political pressure to see the money-printing machine in action again.
Originally posted here.
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