Famed investor Marc Faber, Editor and Publisher of The Gloom, Boom & Doom Report said investors "should be their own central banks and gradually accumulate gold reserves as a currency", rather than speculating in gold.
According to Faber once the Federal Reserve's quantitative easing ends in June, the central bank will come under pressure to announce another round of easing, or QE3. While he acknowledged the greenback may see a temporary rally, he said long-term the dollar would to continue to decline. Click here for more.
"The value of the U.S. dollar will be precisely its intrinsic value — namely zero, precisely zero," said Faber. That in turn would boost demand for gold and silver.
Spot gold hit a record high of $1,4880.50 on Monday, while silver rose to a 31-year high of $43.34 as concerns about rising inflation and the euro zone's debt problems boosted safe haven demand.
Read More
No comments:
Post a Comment