Crude Oil price will fall to $100: Marc Faber
Published on July 22, 2008 at 08:40
Commodity OnlineMUMBAI: Commodities and investment guru "Marc Faber, who told investors to bail out of U.S. stocks before 1987's so-called Black Monday crash, said oil prices may fall to $100 a barrel as demand slows in a global economy at the ``tail end'' of its expansion.
Accelerating inflation and rising interest rates worldwide are likely to dent the value of commodities including oil, said Faber, who publishes the Gloom, Boom & Doom Report, at an investment forum in Sydney today.
Real-estate in India and Cambodia were among his favored Asian investments, he said. ``Global liquidity is under some relative tightening, and that is unfavorable for all asset classes,'' said Faber, 62. There will be ``sharp corrections'' in commodities prices."
Some of the commodities that have really been hard-hit of late are the noble metals; platinum, palladium, and rhodium. After taking a pounding at the end of last week, the platinum price dropped sharply and analysts turned negative on the short-term outlook for the metal.
The natural response of villagers in times of drought and floods is to leave their crops and cattle to flee to cities. But ICRISAT in association with a woman's self help group in Andhra Pradesh demonstrates how information technology and involvement of farmers can help predict such natural calamities and deal with them 
