Saturday, September 10, 2011

Is sentiment too high for gold?

Marc Faber has been bullish on gold for a long time and I've followed him into GLD as well, but now he's calling for gold to hit $10,000. Sentiment is as high as ever now. The inflation adjusted high form the 1970's is $2200.

One aside on this video, as pessimistic as Faber has been on the world economy (and history as proven him correct), he says that he is "not a heavy short-seller" and states his wealth is divided in equal quarters of 1) stocks, 2) gold/silver, 3) real estate and 4) cash. Not bad advice, although I think it's time to take some gold and US Treasuries off the table.. the risk-off trade is getting overdone.


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12 comments:

  1. Wouldn't say so! But I am not very advanced, can't know for sure.

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  2. Might want to re-think that.

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  3. Top-ticked it. Nice. Covering shorts here, no position at moment and got some TBT on Friday.

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  4. I think ahead actually. I thought of this before.

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  12. Any decline in the price of gold is a good chance to buy.

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