Marc Faber says gold's precipitous drop has further to go: “We overshot on the upside when we...

|By:, SA News Editor

Marc Faber says gold's precipitous drop has further to go: “We overshot on the upside when we went over $1,900... We’re now close to bottoming at $1,500, and if that doesn’t hold, it could bottom to $1,100-$1,200." A 40% correction wouldn’t surprise him; “Following this rebound, which I expect to get underway this week, there will be a longer slowdown."