Sept. 6 (Source: Bloomberg) — Gold’s rally above $1,900 an ounce shows no signs of a “bubble” as central banks continue to boost money supply that has helped spur bullion to a record, according to investor Marc Faber.“I don’t think that gold is in a bubble,” Faber, publisher of the Gloom, Boom and Doom report, said in a phone interview yesterday from Chiang Mai, Thailand. “When you buy gold, it’s an insurance against systematic failure and problems in the financial markets.”
Faber’s comments come amid predictions gold may tumble after surging 35 percent this year and touching a record $1,913.50 an ounce on Aug. 23, as investors sought haven asset amid declining equities and weakening currencies. Speculative demand from investors had pushed the gold market into a “bubble that is poised to burst,” Wells Fargo & Co. analysts led by Dean Junkans said in a report last month.
Monday, September 5, 2011
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