Gold News

Gold Investment championed by reputed bearish financier

One of the world's most notoriously bearish financiers has urged commodity market players to Invest in Gold.

Marc Faber, who predicted the 1987 stock market crash and is known as Dr Doom on account of his perennially bearish sentiments, has insisted that the US faces a "dirty war" and that Gold Bullion stocks should be reinforced to hedge against the impact this could have on the dollar, according to the Times.

He said: "The next war will be a dirty war. What are you going to do when your mobile phone gets shut down or the internet stops working or the city water supplies get poisoned?" the news provider reports.

Such investment trend theories find support in the buying habits of the Chinese government, which is upping its purchase of Gold Bullion as part of a wider economic plan centring on diversification, according to FN Arena.

Commodity analyst at Citi Alan Heap said: "The People's Bank of China's central bank is deeply dissatisfied with the performance of its US treasury holdings and has made clear its intention to diversify … into gold," the news provider reports.

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