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Marc Faber: Gold will rally 30% in 2015

Gold has absorbed its fair share of the commodities-market blows in recent years, but now is the time to move back into the precious metal, according to superbear Marc Faber.

‘The only way to short [central banks] is to go long gold, silver and platinum. … That’s something I will do.”

Gold has tanked 35% since reaching an all-time high just above $1,900 an ounce in September 2011, making it one of the worst performing assets in recent years. In 2014, it lost 1.5%, following a 28% slide in 2013. So far in 2015, however, investors have taken a liking of the metal, with the front-month contract up 4.1%, outpacing gains for even a solidly performing dollar. (U.S. equities have been testing the waters on both sides of the break-even mark.)

“We simply have highly inflated asset markets. Real estate is high, stocks are high, bonds are high, art prices are high, and interest rates and short-term deposits are basically zero,” Faber said. “The only sector that I think is very inexpensive is precious metals, and in particularly precious-metals stocks.”

Source Market Watch

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