Marc Faber Sees No Bubble in Gold Price Run Up

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Chanyaporn Chanjaroen
Bloomberg
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.

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6 Responses to “Marc Faber Sees No Bubble in Gold Price Run Up”

  1. AND ONE THING WE LEARNED OVER TIME IS

    THESE EPERTS KNOW EXACTLY WHAT THEY’RE TALKING ABOUT (SIC)

  2. Is is too late to buy gold?

    – Banks

    HOW TO PROFIT LIKE THE ULTRA-RICH DURING TIMES OF ECONOMIC CHAOS!
    (click on my profile name to go to my blog to see my full video)

  3. This one like Peter Schiff actually does.

  4. If you wanted to buy gold, shall we say, and……… you wanted to make sure it rose in relationship to current dollar values, then………. wouldn’t you be able to orchestrate that very outcome if you were in a position to flood the economy with huge amounts of printed money? Devalue dollar, increase value of existing commodities, i.e. gold, silver, food, energy, in fact pretty much anything, that has intrinsic value.

    The point here is that they control the outcome of all investments, including gold. If for example we see a total paper currency collapse, in the U.S. as well as Europe, then how will you fix the value of your gold holdings? I know that many major institutions, including of course governments, are buying gold, which is driving up the price. Only those who can wait out the long haul that will be required to create a new acceptable paper currency, will come through it with wealth of any sort still remaining.
    Add to that the real possibility that they could pass laws taxing, freezing, abolishing, confiscating, regulating, having personal possession of, trying to barter with, trying to negotiate with gold, any transaction involving gold, without government oversight, or permission. Therefore, any real or perceived gains that you might make investing in gold, can be negated with a sweep of the pen!

    So even if it is intrinsically valuable, which is debatable, it doesn’t mean it will always be negotiable.

    Skip the gold, get the commodities you need to survive instead. I won’t list them, as it depends on how much real wealth you possess. NECESSARY COMMODITIES ARE THEY ONLY SAFE PLACE TO STORE WEALTH! READ YOUR BIBLES!

    the sage Reply:
    September 6th, 2011 at 2:50 pm

    Just how much is the gold price now jacked up to do leveraged derivative buys, paper debt instruments and hedging by mining companies?

  5. how does he know? every asset can be compared to something to determine whether its in a bubble or not. RE depends on income vs debt, stock prices are compared to company earnings. Gold, well its just a class of its own, people buy it out of fear, the minute the fear leaves gold plummets. Stupid remark by Faber, I’m starting to think that he just likes to hear his own voice.

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