Marc Faber has told advisers to invest 25% of investment portfolios
in gold bullion.
The author of the Gloom, Boom & Doom Report, urged investment
professionals at the CFA Institute Conference in Chicago that 25 percent of a
portfolio should be allocated to gold given the very significant risks facing
investors today.
The Chicago Tribune reports that Faber advised that gold is a “protection
from a dangerous combination of tremendous government debt and massive
bond-buying by central banks globally trying to fight off recession with
near-zero interest rates.”
Faber said rates are so low that investors can’t make money in bonds so
they keep buying stocks even though the prices are very inflated. Central
banks want rising stock prices to make people feel wealthy and therefore
spend their money, but the end result is income inequality and investor
resentment, he said.
“Faber told the investment professionals gathered in Chicago that they
shouldn’t be prejudiced against gold. Although the typical investment pro
keeps less than 1 percent of his or her portfolio in gold, Faber suggests 25
percent. He sees it as protection from a dangerous combination of tremendous
government debt and massive bond-buying by central banks globally trying to
fight off recession with near-zero interest rates. Besides gold, Faber has
invested in Asian real estate and some stocks and bonds.”
“It’s ludicrous to think that slashing rates will get people to
spend.” When rates are low, he says, you feel insecure as savings earn
nothing. So, “you save more” according to the Chicago
Tribune.
Faber told GoldCore in a webinar in 2014 how he will “never sell his
gold”, he buys “more every month” and he believes owning gold in vaults in
Singapore “is safest.”
Webinar: Gold
Bullion Stored In Singapore Is Safest – Marc Faber via Youtube
Download Guide: Essential
Guide To Storing Gold In Singapore
Gold and Silver Bullion – News and Prices
Gold
market surplus shrinks as fund inflows offset weaker Asian buying
(Reuters)
Britain’s
mint is making big money from gold rush (CNN)
Gold
Edges Higher Ahead of Fed (WSJ)
Gold
ends narrowly higher as investors await Fed decision (Marketwatch)
Gold
consolidates ahead of Fed meeting outcome (Bulliondesk)
Deutsche
Bank’s Pain Turns Chronic (Bloomberg)
Forget
Silver or Gold; Palladium Is Winner Post-Brexit: Chart (Bloomberg)
Gold
and Pork Bellies (Goldseek)
Gold
Futures – critical days in the battle (not the war) (GATA)
Global
arms race escalates as sabres rattle in South China Sea (Telegraph)
Gold Prices (LBMA AM)
27 July: USD 1,320.80, EUR 1,200.21 & GBP 1,007.77 per ounce
26 July: USD 1,321.25, EUR 1,199.56 & GBP 1,006.40 per ounce
25 July: USD 1,315.00, EUR 1,196.91 & GBP 1,000.32 per ounce
22 July: USD 1,323.20, EUR 1,199.22 & GBP 1,005.10 per ounce
21 July: USD 1,322.00, EUR 1,199.32 & GBP 1,000.75 per ounce
20 July: USD 1,325.60, EUR 1,204.31 & GBP 1,005.86 per ounce
19 July: USD 1,332.20, EUR 1,203.38 & GBP 1,009.04 per ounce
Silver Prices (LBMA)
27 July: USD 19.58, EUR 17.81 & GBP 14.95 per ounce
26 July: USD 19.68, EUR 17.89 & GBP 15.00 per ounce
25 July: USD 19.41, EUR 17.66 & GBP 14.77 per ounce
22 July: USD 19.70, EUR 17.87 & GBP 15.03 per ounce
21 July: USD 19.34, EUR 17.55 & GBP 14.66 per ounce
20 July: USD 19.70, EUR 17.88 & GBP 14.95 per ounce
19 July: USD 19.99, EUR 18.07 & GBP 15.18 per ounce
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