June 18, 2012
By Frank Holmes, CEO and Chief Investment Officer, U.S. Global Investors
Marc Faber recently noted in an interview that people say the price of gold is in a bubble stage, and is up substantially from the lows in 1999. However, as he remarks about conferences and speaking engagements, "I usually ask the audience, 'How many of you own gold?' Normally, hardly anyone owns it. I've been to conferences with thousands of people attending, and nobody owned any physical gold." A recent headline earlier in the week noted that more people own Apple stock than physical gold.
Source: This was excerpted from U.S. Global Investors' Investor Alert, May 4, 2012, www.usfunds.com.
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