gold could fall to $1,100: faber , page-3

mihal,

Just a few comments:

"....Marc Faber, author of the Gloom Boom, and Doom Report, told CNBC Monday"

Marc wouldnt have seen the POG rise on Tuesday when he made this statement on Monday.


"We're now close to bottoming at $1,500, and if that doesn't hold it could bottom to between $1,100-$1,200."

Unfortunately for Marc, POG touched $1,600 last night, way above $1,500, and has been up since.


"US gold suffered its biggest daily drop in more than five years on Friday"

POG rose to its biggest ever daily jump in history on Tuesday.


"Both equity markets and gold markets have become very oversold, and I think a rebound is occurring," he said. Following this rebound, which I expect to get underway this week, there will be a longer slowdown."

the rebound did happen today, this week, and everyone knows that once the debt crisis is fixed, POG with then continue its slow long term rise, but honestly I dont see the debt crisis being "fixed" anytime soon this year, imo