Gold May Rise 10-Fold

Do you have your Gold yet?

Complete Story: Bloomberg.com: Australia & New Zealand.

Marc Faber Says Gold May Rise 10-Fold If Dow Triples (Update2) April 25 (Bloomberg) — Marc Faber, who told investors to bail out of U.S. stocks a week before the 1987 Black Monday crash and began recommending commodities at the end of 2001, said gold may rise 10-fold in the next 10 years.

“If the Dow Jones goes up three times in the next 10 years, I think gold prices will go up by a minimum 10 times to something like $6,000 an ounce,” said Faber, 60, who founded Hong Kong-based Marc Faber Ltd. and manages about $200 million.

Faber, author of a newsletter called The Gloom, Boom & Doom Report, said gold wasn’t expensive when “you compare its price to the quantity of money that has been printed in the last 10 to 15 years in the U.S. and the world in general.”

Gold for immediate delivery rose to $645.85 an ounce on April 20, its highest in the more than 25 years, as hedge funds and other speculators bought commodities to seek greater returns than from stocks and bonds. Former George Soros partner Jim Rogers forecast April 17 that gold would reach $1,000 an ounce.

Error: Unable to create directory wp-content/uploads/2024/03. Is its parent directory writable by the server?

About waynem

As a Minnesota based photographer and artist I have been greatly influenced by the Upper Midwest. I focus my skills and energies on portraits, landscapes, cityscapes, architectural and fine art work. My best work comes from images first painted in my mind. I mull over a prospective image for weeks or months, seeing it from different angles and perspectives, then finally deciding what to capture. The result is images that deeply touch people's emotions and powerfully evoke memories and dreams. My images are used commercially by companies and organizations ranging from Financial Services firms, mom and pop Ice Cream shops and The Basilica of St Mary to communicate their shared vision and values. Book and magazine publishers have featured my images on their covers. My photographs also grace and enhance the decor of many fine homes.
This entry was posted in Misc and tagged , , , , , , , . Bookmark the permalink.