Faber: Big Buying Opportunity In Gold

While gold has tumbled in the past couple days, Marc Faber of the Gloom Boom & Doom Report says he thinks “the bull market in gold is not completed,” and that a major low will occur for gold in the next couple weeks. Faber tells Bloomberg that he thinks gold fundamentals are still intact, and that the recent breakdown “will offer an excellent buying opportunity”. He says traders would be wise to buy gold now because it is oversold, but that long-term investors should wait a bit longer to see if prices fall more after a bounce-back. Faber also says that if the recent drop in gold prices and rise in bond prices is a signal of coming deflation, he wouldn’t buy stocks.

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