Faber: Own Physical Gold (Video)
Marc Faber, editor of the Gloom Doom & Boom Report, appeared on CNBC to give his take on the current precious metals market. Faber was skeptical about the health of the stock market, hinted that it is in a bubble, and emphasized the importance of having safe haven hard assets in your portfolio.
I have a preference for physical gold held in a safe deposit box outside the United States… Some experts say they don’t like gold. Well, they never owned a single ounce of gold during gold’s great bull market of 1999 to 2011. So I don’t pay much attention to so-called experts.”
Faber: Gold As ‘Insurance Policy’ from CNBC.
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Phenomenal insights into the gold market. While I don’t profess having gold in ones portfolio, I can only speak from my experience that having physical gold helped me through my bad financial times. I inherited some gold and silver bars from my grandfather, which hold a whopping value as per current spot price of the precious metals. Gold-backed stocks are yet another paper securities. They can fluctuate from hundreds of dollars, down to a few cents per share. They lack store of value.