Video Interview CNBC 26 Sep 2011 http://faber-blog.blogspot.com/2011/09/video-interview-cnbc-26-sep-2011.html#.ToBeiebkNLw.pingfm Gold at these level is quite oversold but it Could Fall to $1,100/oz Marc Faber , author of the Gloom, Boom and Doom Report, tells CNBC that he thinks gold could fall to $1,100 an ounce by the end of the ongoing sell-off "We overshot on the upside when we went over $1,900," he said "We're now close to bottoming at $1,500, and if that doesn't hold it could bottom to between $1,100-$1,200." he added http://faber-blog.blogspot.com/2011...el-is-quite-oversold.html#.ToBdEYLLIHc.pingfm
He must be expecting some serious De-leveraging in markets and a massive rally in DXY. This could point to something far more than 87/88 on DXY. But of course this is in terms of USD the gold price. This large move in the DXY could prove lucrative for gold priced in AUD. The problem is if you sell your gold in AUD and the AUD continues to fall then what could you own to cover your loss of purchasing power in AUD.
I believe in this video he is saying the S&P might fall to 1,100. Then he says 'gold at this level..' meaning, I think, gold at the current level.
