"Continue to accumulate gold. The best way is to dollar cost average every month. Gold may decline in the short-term, but the long term trend is up. Faber also mentions that gold remains undervalued compared to the egregious amount of fiat money which has been printed by central banks worldwide. If the US ever needed to back the dollar with gold, it would take a price of $7500 per ounce of gold to accomplish this. Thus, gold remains an attractive asset. Furthermore, gold is still under owned by individuals and institutional investors. Regarding gold stocks, Faber is buying Newmont and Barrick." - in Wall Street Pit, from the Gloom, Boom & Doom Report
Related: SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX)
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
