March 13, 2012

Gold: There`s Significant Support Around 1500, But It Could Drop Lower

All I'm saying is that, in my opinion, the gold price correction is not yet entirely completed. I see significant support around the $1,500 USD/oz level, but it could drop even lower.
We could have a big correction if global liquidity tightens or they stop printing money said

Marc Faber

in the Middle East Investment summit, Dubai.

Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.

Dr. Marc Faber, born February 28, 1946, is an investment analyst and entrepreneur. Faber was born in Zürich and graduated in Geneva, Switzerland, where he raced for the Swiss National Ski Team. He studied Economics at the University of Zurich and, at the age of 24, obtained a Ph.D. degree in Economics..

Faber has a reputation for being a "Contrarian" investor and has been called "Doctor Doom" for a number of years. Faber is a regular speaker on the investment circuit and best known for the Gloom Boom & Doom Report newsletter. He has also written several books.