Last Updated :
22 July 2008 at 08:40 IST
Crude Oil price will fall to $100: Marc Faber
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.
MCX COPPER MINI 29 June 2012
contract was trading at
Rs 403.85 , up Rs. 5.25 . What's your view on it?
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