Faber Says Financial Industry to Contract ‘Much More’

Faber said gold was currently expensive relative to other commodities, and the bearish sentiment that’s driven investors from equities to the precious metal is likely to reverse soon. He had recommended investors buy gold since the start of an eight-year rally that this month saw the metal top $1,000 per ounce as skittish investors sought safe-haven assets.

Faber can be uncannily accurate. However I read his comments as there being a need for other commodities (which are vastly oversold) to rally, as opposed to gold needing to fall. Gold is incredibly cheap compared to the scale of the crisis we are experiencing.