- Gold Price Won’t Drop Below $1,000 an Ounce Again, Faber Says (Bloomberg, Nov 11, 2009)
“We will not see less than the $1,000 level again,” Faber said at a conference today in London. “Central banks are all the same. They are printers. Gold is maybe cheaper today than in 2001, given the interest rates. You have to own physical gold.” China will keep buying resources including gold, he said. “Its demand for commodities will go up and up and up,” he added. “Emerging economies will grow at the fastest pace.”
- John Paulson Buys Huge Stake In Citi, While Dumping Goldman Sachs:
The world's hottest hedge fund manager John Paulson has acquired 3 million shares of Citigroup (C), acquired more shares of JPMorgan (JPM), while completely dumping his holdings in Goldman Sachs (GS) and Bank of America (BAC). As before, Paulson's number one position continues to the be GLD with 31.5 million shares.
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