Faber: Market May Fall Below 1,100

Marc Faber told CNBC yesterday that he thinks the S&P500 could fall to as low as 1010 by the end of the ongoing sell-off. Faber also believes gold could fall. However, he believes both markets are oversold and is more keen to buy gold on a rebound than equities.

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Also note Marc’s comments on China where he sees the selloff in Dr. Copper as a sign of a slowing Chinese economy. In his view, recent market turmoil has more to do with China than Greece. Longer-term, he is still bullish on Asia.

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Note: this post has been altered to reflect Faber’s view that it is equities which could have further to fall despite being oversold instead of gold.

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4 Comments
  1. kiril says

    Please listen properly ….he is talkin abt 1100 on the S&P

    1. Pierre says

      I second kiril’s view. He speaks of the S&P 500. On Gold, he is prepared to consider buying at present levels…

  2. Dave Holden says
  3. David Lazarus says

    I still think that Greece is the main reason for current volatility though further out China will definitely be the cause. Especially once it slows down.

Comments are closed.

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