Sunday, July 1, 2012

Gold Bullion "Has Bottomed" Says Marc Faber - BullionVault

The PRICE of Gold Bullion has now bottomed out, according to leading investment author and precious-metals advocate Marc Faber.

"I'm not sure that gold will not make a new high this year," Faber told Bloomberg in an interview earlier this week, "but I think we've bottomed out.

"Some Gold Mining shares have become very very inexpensive compared to the reserves they have."

CEO of Marc Faber Ltd and author of the monthly Gloom, Boom & Doom Report, Swiss-born Faber serves as a director or adviser to a number of investment funds, mostly focused on emerging markets.

Marc Faber first predicted the boom in Gold Bullion and commodity price back in 2000. Since 2001, the price of Gold Bullion has increased more than sevenfold, from $250 an ounce to approximately $1900 last summer. But since that extreme in early September, the price has fallen rapidly, at times dipping below $1525.

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