In the wake of the tragic attacks in Belgium last week, and the growing number of terror events going on all over the world (including yesterday in Pakistan during an Easter gathering in a park), people as a whole tend to seek financial safe havens to mitigate fears that the economy will be adversely affected by the chaos and potential future consequences. And according to economist Marc Faber over the weekend, many will seek to protect their wealth in gold rather than in strong currencies like the dollar.
"Overall, I’d be rather cautious about investments in equities..." the editor and publisher of the Gloom, Boom & Doom report told CNBC's "Fast Money" traders this week.
However, "over the last 12 to 24 months, many sectors have had huge declines,...And I see here, there are some opportunities."
"...US markets are over-valued."
Faber also added that "I still think the mining sector has embarked on a new bull market."
"[The U.S. dollar] is not a desirable currency," Faber explains, "I think the most desirable currency will be gold, silver, platinum and palladium."
"I don't understand why the world is so enthusiastic about the US Dollar...in the long-run the US dollar will be a weak currency." - Zerohedge