Marc Faber Sees Gold & Trump's Potential; No Rate Hikes

Gold prices remain under pressure ahead of the release of Wednesday’s Federal Open Market Committee minutes. However, one famed economist, known for his usually “gloomy” economic outlook, says the U.S. central bank will not raise rates and may actually resort to more easing. “My impression is that the Fed will not increase rates any further this year – my impression is that the economy is actually weaker than the statistics would suggest,” Marc Faber, publisher of the Gloom, Boom, & Doom report, told Kitco News. “My impression will also be that eventually there will be some type of helicopter money in the U.S, or the launch of QE4.” The contrarian investor also chimed in on gold and the U.S. presidential election, to which he had interesting comments. “I feel that the gold price and gold miners still have a significant upside potential,” he said. On GOP frontrunner Donald Trump, Faber characterized him as “courageous” for challenging the establishment. “Whether he will be a good president? I don’t know but given the other options, I’d rather take Trump, who is not the most honest person but in my view, more honest than Ms. Clinton.” (show less)

Gold prices remain under pressure ahead of the release of Wednesday’s Federal Open Market Committee minutes. However, one famed economist, known for his usually “gloomy” economic outlook, says the U.S. central bank will not raise rates and may actually resort to more easing. “My impression is that the Fed will not increase rates any further this year – my impression is that the economy is actually weaker than the statistics would suggest,” Marc Faber, publisher of ... (read more)

 
 
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The Kitco News team speaks to analysts and experts on the frontlines of the market to get the most up-to-date news on the economy. The show offers a well-rounded, timely view on big market moves and any major headlines that may affect financial assets. Coined – no pun intended – as the number one source of precious metals news, Kitco News is the leading provider of up-to-date price action in the precious metals space.

 

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