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Contrarian investor prefers gold over oil

Investor Marc Faber offers thoughts on commodities; $300 oil a possibility

By Nathan Becker, MarketWatch.com
Last update: 3:07 p.m. EDT June 27, 2008
SAN FRANCISCO (MarketWatch) -- Contrarian investor Marc Faber said he could see oil rocket to $300 a barrel if the U.S. attacks Iran, but he prefers gold to oil in normal circumstances because of the U.S. government's potential curbing of speculative trading.
"I personally would rather buy gold at this stage than oil," said Faber, a famous contrarian and publisher of "The Gloom, Boom and Doom Report" during a conference call Friday hosted by U.S. Global Investors.
Faber plays the role of a contrarian -- often going against the grain, and stating on his Web site that the path not taken by the masses many times is the right one.
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