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Gold, silver and platinum to outperform equities in 2009, says Marc Faber
Source: BI-ME and media reports , Author: BI-ME staff
Posted: Tue January 6, 2009 12:00 am
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INTERNATIONAL. Marc Faber the Swiss fund manager and Gloom Boom & Doom editor and publisher said forecasting economic conditions is becoming all the more difficult, reported India's Economic Times.

"Around the turn of each year forecasts are made for the following year. I find making predictions amidst so much government interventions to be particularly difficult," said Faber.

Faber believes the additional printing of money across economies for financing such stimulus packages would lead to "higher and higher fiscal imbalances". In such a scenario, he expects precious metals such as gold, silver and platinum to outperform assets such as equities and bonds in 2009.

"I need to confess that I have no idea where the S&P 500 will be in a year's time, but given the catastrophic economic conditions we find ourselves in, I am convinced that governments around the world will increase the intensity with which they will attempt to save the world with monetary and fiscal measures," he said.

Faber feels "geopolitical events", apart from weak economic conditions, will increasingly impact asset markets.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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