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Invest In Gold Now As Stock Market To Crash – Faber

by Mark O’Byrne, Gold Core:

Marc Faber, editor of the “Gloom, Doom & Boom Report,” has advised investors that now is a good time to invest in gold because stocks will crash over 40% and the world is on the verge of a new liquidity and debt crisis.

Faber says investors would be prudent to diversify into safe haven in gold bullion which has risen 3% this year and is currently at $1,096 an ounce.

He recently told MarketWatch that the stock-market downturn could result in stocks hitting lows not seen in five years.

“According to FactSet data, that would be 1,099.23, set that October. Faber referred to that outcome, a more-than-40% plunge in the broad stock-market benchmark, as his ‘medium bearish’ scenario. His most bearish prognostication envisages the S&P 500 falling back to its 2009 nadir, which FactSet data put at 676.53,” MarketWatch reported.

“The main factor is diminishing global liquidity because of the decline in oil prices.”  A rapid appreciation of the U.S. dollar may send Brent oil as low as $20 a barrel, according to Morgan Stanley and other analysts.

Crude oil (WTI) fell sharply to below $28 a barrel today on deepening concerns about oversupply, fragile demand from China and the slowing global economy.

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