Well known economic analyst Marc Faber still likes gold, especially when compared to equity prices. In his October 2009 Gloom Boom & Doom report, Faber discusses his long-term outlook for the shiny yellow metal:
Some pundits will argue that precious metals are expensive, but this isn’t my view. Why would anyone not own some gold, rather than US dollars, when interest rates are near zero? Dollars can and will be printed en masse, whereas the supply of precious metals is extremely limited.
For those still trying to decide whether gold/silver, Marc Faber lays out a pretty simple and effective argument. In addition to the historical evidence for a depreciating dollar, the current policies instituted by the Obama administration, The Fed and Treasury clearly point to not only continued degradation of the US dollar, but an acceleration in its declining purchasing power. Dr. Faber is not saying one should put all of their net worth into gold, but securing at least a part of personal assets with precious metals will certainly not hurt. Though Faber focuses on the US dollar in this particular GBD Report, he has repeatedly stated that gold will rise against most paper currencies for the same reasons as described above. (more)
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