Monday, March 11, 2013

Marc Faber: Buy Gold & Silver Now before the market crashes in July 2013

Marc Faber: Gold & Silver Investors Must Prepare for Enormous Financial Disaster 2013 .Gold and silver have been selling off recently in tandem with the S&P 500. How far will the prices crash before the correction is over?

Marc Faber : "I do not think that the market is as over bought as it was in 1987. So I do not expect a crash, but I think for the time being the market has peaked out. And I think that in the meantime, bonds which are extremely oversold could rebound," "Either we have a correction now and then we go up further, or we go straight up into a high in July-August from where we could crash. So, I welcome a correction here." "The market has now become quite overbought and that there is very significant or over-extended bullish sentiment. Everybody says sell bonds, buy equities. And when everybody thinks alike, one has to be careful. If we have a correction of 10%, I wouldn't necessarily buy into the market. I would watch the rebound because I think there is a very great chance that the rebound will fail to make a new high," - in a recent interview with money Control