Saturday, November 17, 2007

$1000 Gold

US$1000 Gold so says Dr. Marc Faber in a news article published on Bloomberg.

  • Nov. 15 (Bloomberg) -- Gold may ``easily'' rise to a record $1,000 an ounce next year as the dollar weakens and Asian central banks diversify their reserves, said Marc Faber, who advised investors to acquire the metal at the start of a six-year rally.

    A ``continued'' weakening of the U.S. currency may help gold to climb above its all-time high of $850 traded in January 1980, said Faber, managing director of Marc Faber Ltd. and publisher of the Gloom, Boom & Doom Report.

    ``That's baked in the cake in my opinion,'' he said today in an interview. ``Gold is still relatively cheap. It hasn't risen as much as nickel, or oil.''
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