Marc Faber continues to be bullish on silver and gold for almost ten years. The author of "Tomorrow's Gold" and also the Gloom Boom Doom Report continues to be an outspoken critic of the expansionary monetary policies at the Federal Reserve.
Faber is still bullish on gold although he is somewhat anxious that the price could fall to the $1150/oz range. Faber is slightly concerned that we now have some new gold bulls that have recently joined the chorus of criticism directed at Ben Bernanke.
Nearly all of Marc Faber's gold portfolio is located in physical bullion. Faber has encouraged U.S. citizens to keep gold not in the U.S. Presumably he is worried about government confiscation of gold that happened during the Great Depression. This can be most likely an unwarranted fear because few U.S. citizens actually own gold. In the Great Depression, the U.S. was on the gold standard and thus average citizens held bullion. That's not the situation today.
One other part of Marc Faber's gold portfolio continues to be dedicated to mid-size producers such as Novagold (NG) and Gabriel Resources (GBU.TO). It also appears that Faber sees value in large gold producers including Gold Fields (GFI), Newmont Mining, (NEM), Barrick Gold (ABX).
Over the time that I have followed Marc Faber's gold positions, I've not seen him recommend any of the junior exploration companies. For the most part, he is a conservative investor nearing retirement age and he continues to be reticent to try and find the burning matchstick kind of speculations that are found in the junior mining sector.
He has also strongly advised investors in order to avoid using leverage when playing the gold market. There may be violent corrections that can wipe out even savvy hedge fund managers. By way of example, he noted that in the 70's some money managers were correctly bullish about the price of gold nevertheless they were wiped out when gold fell by 50%. Thus, these were struggling to be involved in the rest of the bull market.
Faber is still bullish on gold although he is somewhat anxious that the price could fall to the $1150/oz range. Faber is slightly concerned that we now have some new gold bulls that have recently joined the chorus of criticism directed at Ben Bernanke.
Nearly all of Marc Faber's gold portfolio is located in physical bullion. Faber has encouraged U.S. citizens to keep gold not in the U.S. Presumably he is worried about government confiscation of gold that happened during the Great Depression. This can be most likely an unwarranted fear because few U.S. citizens actually own gold. In the Great Depression, the U.S. was on the gold standard and thus average citizens held bullion. That's not the situation today.
One other part of Marc Faber's gold portfolio continues to be dedicated to mid-size producers such as Novagold (NG) and Gabriel Resources (GBU.TO). It also appears that Faber sees value in large gold producers including Gold Fields (GFI), Newmont Mining, (NEM), Barrick Gold (ABX).
Over the time that I have followed Marc Faber's gold positions, I've not seen him recommend any of the junior exploration companies. For the most part, he is a conservative investor nearing retirement age and he continues to be reticent to try and find the burning matchstick kind of speculations that are found in the junior mining sector.
He has also strongly advised investors in order to avoid using leverage when playing the gold market. There may be violent corrections that can wipe out even savvy hedge fund managers. By way of example, he noted that in the 70's some money managers were correctly bullish about the price of gold nevertheless they were wiped out when gold fell by 50%. Thus, these were struggling to be involved in the rest of the bull market.
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