Marc Faber: Gold mining stocks are in a new bull market

From CNBC:

Marc Faber, The Gloom, Boom, & Doom Report, provides perspective to how terror impacts markets and says in the long run the U.S. dollar will be weak.

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“Over the last 12 to 24 months, many sectors have had huge declines,” Faber said. “And I see here, there are some opportunities.”

Faber points to the gold miner ETF GDX. After falling more than 67% to its low on Jan. 19 of $12.40, the ETF has rebounded up to $20.58 in the last month. Faber thinks it’s going higher.

“[The U.S. dollar] is not a desirable currency,” said Faber, perplexed why the world has been so “enthusiastic” about the greenback. “I think the most desirable currency will be gold, silver, platinum and palladium. I still think the mining sector has embarked on a new bull market.”

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