Gold Could Rise 30% in 2015

Famed contrarian investor Marc Faber has predicted that gold will go up “substantially” in 2015, perhaps as much as 30%. Much like Peter Schiff, Faber sees 2015 as the year that the markets wake up and realize that central banks are no longer capable of artificially supporting asset prices.

Faber’s investment advice comes down to shorting central banks:

My belief is that the big surprise this year is that investor confidence in central banks collapses. And when that happens — I can’t short central banks, although I’d really like to, and the only way to short them is to go long gold, silver and platinum… That’s the only way. That’s something I will do.”

Crashing oil prices are just the tip of the iceberg. According to Faber, nearly every asset is overpriced and artificially inflated by central banks:

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… The only sector that I think is very inexpensive is precious metals, and in particularly precious-metals stocks.”

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