wealthwire.com / by Brittany Stepniak / Wednesday, January 9th, 2013
Marc Faber has released his January issue of Market Commentary, keeping the spotlight on gold throughout his message.
According to ‘Dr. Doom,’ a gold correction of up to 10% – on the downside – would not surprise him as precious metals have slipped to the lowest level since August 2012.
The decline occurred almost immediately following the release of the minutes from the Federal Open Market Committee (FOMC) in December 2012.
Nonetheless, Faber still thinks gold will eventually inch back up as more investors seek gold as “an insurance policy” when money becomes all but worthless due to more reckless quantitative easing measures.