The markets have created their own gold standard because of uncertainties regarding other asset classes, Marc Faber, author of The Gloom, Boom and Doom Report, told CNBC on Thursday.
“I think we already now have a gold standard … created by the market place. We have the exchange traded funds that have proliferated and we have more and more physical buying of gold,” he said.
Source: CNBC, March 18, 2010.
