Marc ‘Dr. Doom’ Faber Doesn’t Think $1,500 an Ounce Means There’s a Gold Bubble

Marc Faber, investment analyst, speaks during a television interview in New York, U.S., on Monday, May 10, 2010. Faber, the publisher of the Gloom, Boom & Doom report, said the European Union-led bailout deal for Greece will only postpone Greece's problems. Photographer: Jonathan Fickies/Bloomberg via Getty Images Photo: Bloomberg/2010 Bloomberg

"If it were a bubble a lot of people would have gold. The whole world would be trading gold 24 hours a day. But I don't think it's really a bubble. I think gold is maybe cheaper today than it was in 1999, when it was $252." —Marc Faber, the contrarian author of Gloom Boom & Doom, redefines the word bubble as fears of inflation drive gold prices up to an all-time high. [CNBC]