Thursday, February 4, 2010

Marc Faber: Own Precious Metals

Marc Faber Precious Metals

While Marc Faber has been busy blasting the banks and their practices, he mentioned recently that as far as it relates to commodities, and precious metals specifically, is if he is "right about further monetization and further government debt growth, the risk is really not to own any precious metals at all."

Faber and others acknowledge the possibility of a gold correction, depending on the liquidity in the markets, and says it could drop as low as $950 to $1,050 an ounce if that happens.

That would only be a temporary event and would be the time to load up on more gold if that's the circumstances.

Faber remains a bull on gold, and again confirmed it as a place of safety and a haven in ongoing turbulent times.

As far as equities go for 2010, Faber believes they will perform in an up and down manner throughout the year.

Again, gold and other precious metals are a must according to Faber, and not to own some is indeed to take a real risk.

Marc Faber Precious Metals

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