Marc Faber: Gold price could rise 30% this year

According to investment guru Marc Faber, there is a good chance that the price of gold will increase by 30% this year. rise. He made that statement last Tuesday during the presentation of Société Générale's new strategy in London. In 2014, the gold price fell by 1.5% in dollars and more than 12% in euros.

"I believe the big surprise of this year is the loss of confidence in central banks. And when that happens, the only thing you can do is short central banks by buying gold, silver and platinum. That's what I'm going to do," Faber said.

"We are dealing with inflated prices of financial assets. Real estate, stocks, bonds, and art are all relatively expensive, and interest rates are practically zero. The only sector that I think is very cheap is that of precious metals. In particular, those of mining shares', he added.

The U.S. stock market in particular is heavily overvalued, according to the investment guru. Investors in emerging markets have the potential to deliver better returns, but he thinks it's too early to invest in them right now.

Dr. Doom

Marc Faber is often referred to as Dr. Doom in the mainstream media because of his usually gloomy expectations about the economy. He became particularly popular with gold investors because of his positive attitude towards investing in gold and his skepticism about the economic recovery.

However, his predictions were not always sharp, because in September 2011 he said that gold was extremely cheap. At that time, the price was at $1,850 per troy ounce, just below the all-time high. Since then, the price of gold has fallen by about 30%. Faber was also not too positive about shares at the time, even though they have risen sharply in value since 2011.