According to the Business Intelligence Middle East website today, Marc Faber likes gold so much these days— he would like to see the price fall even more than it already has so he can buy more if it. From the BI-ME staff:

Marc Faber, the former head of Drexel Burnham Lambert in Hong Kong and now, besides running private-client portfolios from his base in Thailand, editor of the widely respected Gloom, Boom & Doom Report still favours investing in gold as he believes governments will be left with no other option than printing money, leading to higher inflationary pressures.

Speaking to Bloomberg news Faber said, “I think physical gold will go down some more, but as an insurance policy I’d be very happy if it went down first, allowing us to buy more.”

Compared with industrial commodities, “Gold has held up relatively well,” says Faber “and it has held up relatively well compared with equities.”

Looking ahead, “I think that the governments in this world have no other option than to print money, and that will lead down the road to inflation.”

Source:

“As gold prices fall we will buy more to hedge against coming inflation, says Marc Faber”
BI-ME Staff
Business Intelligence Middle East, October 24, 2008

This post is filed under Commodities, Marc Faber, Precious Metals. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.