Faber: Dismal Stocks, Bonds Create New Gold Standard

Uncertainties surrounding asset classes such as stocks and bonds have created a new gold standard, says Marc Faber, editor of “The Gloom, Boom and Doom Report.”

Between 2001 and 2008, gold outperformed stocks and bonds, but beginning in 2009, stocks soared.

That, Faber says, sent some investors to gold for safety because normally, retail investors cannot move in and out of different assets like institutional investors.

“I think we already have now a gold standard … created by the market place,” Faber tells CNBC. (more)