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Marc Faber Sees No Bubble in Gold Price Run Up

Posted By admin On September 6, 2011 @ 8:25 am In Featured Stories | Comments Disabled

Chanyaporn Chanjaroen
Bloomberg [1]
Sept 6, 2011

Gold’s rally above $1,900 an ounce shows no signs of a “bubble” as central banks continue to boost money supply that has helped spur bullion to a record, according to investor Marc Faber.

“I don’t think that gold is in a bubble,” Faber, publisher of the Gloom, Boom and Doom report, said in a phone interview yesterday from Chiang Mai, Thailand. “When you buy gold, it’s an insurance against systematic failure and problems in the financial markets.”

Gold climbed to a record $1,921.15 an ounce today, underscoring Faber’s contention that declining equities and weakening currencies will support demand. Speculative buying had pushed the gold market into a “bubble that is poised to burst,” Wells Fargo & Co. analysts led by Dean Junkans said in a report last month.

“I’d buy every month a little bit of gold,” Faber said.

Full article here [1]

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URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/news/2011-09-06/marc-faber-sees-no-bubble-in-gold.html

[2] Marc Faber:”One Day the Price of Gold Will Be Higher than the Dow Jones.”: http://www.prisonplanet.com/marc-faberone-day-the-price-of-gold-will-be-higher-than-the-dow-jones.html

[3] Marc Faber Resumes Bloodfeud With Treasurys, Still Sees Entire Financial System Imploding: http://www.prisonplanet.com/marc-faber-resumes-bloodfeud-with-treasurys-still-sees-entire-financial-system-imploding.html

[4] MARC FABER: Sure Gold Is Down, But Apple Is Down By Twice As Much: http://www.prisonplanet.com/marc-faber-sure-gold-is-down-but-apple-is-down-by-twice-as-much.html

[5] Marc Faber: The US Can ‘Artificially Depress’ Prices And Confiscate Your Gold: http://www.prisonplanet.com/marc-faber-the-us-can-artificially-depress-prices-and-confiscate-your-gold.html

[6] Nowhere to Hide: Did Doctor Doom Marc Faber Just Abandon Gold?: http://www.prisonplanet.com/nowhere-to-hide-did-doctor-doom-marc-faber-just-abandon-gold.html

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