[youtube]http://www.youtube.com/watch?v=TzftKCwhnxQ[/youtube] "don't buy gold yet", Marc Faber believes there is another leg down in the near future. But he mention to buy a little each time instead of a huge purchase at one time. Would silver go down as well? We'll see Note: the final parts of the video doesn't seem to play. Revlisify Edit: Fixed YouTube link. Thanks BlackSheep
TS Marc Farber...I bought some gold just last night (thanx Auroura) He's not the only one that can manipulate the market.
Here it is p.s. I believe what he actually says taken as a whole equates to "Don't go all in - average in as there could be another correction coming"
I quoted revlisify's original post and edited out the extraneous part of the url Originally it was: www.youtube.com/watch?v=TzftKCwhnxQ&feature=g-u-u&context=G24f851dFUAAAAAAAIAA I changed it to: www.youtube.com/watch?v=TzftKCwhnxQ The forum software seems to have a problem handling the additional parameters in the url (video link). They're not really required so removing them makes it work
"If I were an investor, or a saver, I would buy every month a little bit - and not everything at the same time" - quote Marc Faber on this same vid. Does that suggest a strong warning against buying gold now? This vid was made available earlier on the Marc Faber Channel, DoomBoomGloom, without the title 'Don't Buy Gold Yet' which suggests the title was the blogger's addition. Marc Faber has said that he expects another gold leg down, but he doesn't go further to say how much or how long. I think the tone of the comments is mild, and the fact that he says "another leg" - singular - suggests, to me anyway, that he's not expecting much more downside to go. He was making cautioning comments around the top at 1900+
I guess you could also wait a while until there is a dip or small crash in the gold price - and then buy when the AUD is only worth say, USD0.85c :/
Yea i tend to agree with Marc he's been on the ball with calling allot of corrections in the past. Shiney has touched on it abit but if the price of gold was to drop in USD then that would generally cause the AUD to fall in value which will shelter us from most the losses. Gold is quite easy as it really just tracks the currency's but silver on the other hand if gold corrected say another 10% silver could make a huge move down 30% who knows its been all over the place.
Yep to you agreeing with me a bit, nope to you agreeing with Marc Faber ))) Anyone doubting whether it's a good time to buy gold in Australia now needs to ask themselves: Why has the price of gold risen? Why has the USD dropped? Why has the AUD exchange rate v USD risen? When the AUD last fell below parity in early december (?), what happened to the price of gold in AUD? Marc Faber's advice may be sound for someone living in the US or being payed in USD - but the only reason gold will drop in price is that the USD will increase in value. When this happens the hot money bumping the AUD exchange rate will leave, and gold will either cost the same in AUD or more. Just another reason why I'd hate to live anywhere else at the moment apart from Australia. That's pretty boring, sensible and safe advice. Nothing unusual at all to take out of that. You should be buying because the Oz $ is strong.
