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Marc Faber: The Gold Sector is Bottoming Out

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Posted by Marc Faber - Gloom Boom & Doom Reporteport

on Friday, 08 September 2017 07:21

 

If you ask me about the world, I think we had a very strong performance of technology and internet-related stocks, e-commerce and so forth. They had a super performance until recently. Now, more recently in the U.S., Facebook, Amazon, Apple, Google, Netflix are the kind of stocks that will not provide you a high return going forward. They will go down as they are quite vulnerable. First of all, there will be more international competition and secondly, the valuations are really high. When we look at sectors that have low valuations, I would say oil and oil-related stocks are relatively low. European stocks are relatively low compared to the U.S. Some Asian markets - Singapore, Thailand, Vietnam are relatively low compare to everything else, as well as Japan. Then we have the mining sector which had a horrific performance since 2011 and the speculators are now-a-days are no longer in gold, silver and platinum. They all migrated to cryptocurrencies. But the gold sector is bottoming out. It is a very different type of asset class to own physical gold than to own bitcoins and other cryptocurrencies. I think that this sector will come back, as well as the underlying shares.

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