Dr. Marc Faber, the publisher of the famous investment newsletter, Gloom, Boom and Doom, said recently that gold prices may continue to drop as low as 950 to 1,050 an ounce but that correction should be viewed as a buying opportunity and that there is not any reason to sell gold:
“The dip in gold price is a correction and this should be taken as a great buying opportunity...the weakness that gold has shown recently is no reason for investors to get out of gold investments. I still believe gold should continue to be part of every investor’s wise investment portfolio”
Recently, Faber stated that gold price wouldn't drop below the $1,000 an ounce mark ever again. A renowned investor that he is, Faber feels that it is the right time to buy gold to hedge against the printing of money from central banks around the world:
“There is no doubt the printing of money from central banks around the world is generating inflation, and it will increase going forward. That alone is a good enough reason to have gold in your investment portfolio. Gold remains the best bet as a currency these days because of the fact that the yellow metal supply is extremely limited”
Related ETF`s: SPDR Gold Trust (ETF) (GLD), Market Vectors Gold Miners (ETF) (GDX)
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