Eternal Commodity Bulls Have ‘Thrown in Towel’: Marc Faber

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  1. hvactec
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    hvactec VIP Member

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    Published: Thursday, 21 Jun 2012 | 11:21 PM ET

    Commodities bulls may have finally “thrown in the towel,” Marc Faber, the editor and publisher of the 'Gloom, Boom and Doom' report told CNBC, after commodities suffered their biggest one-day fall this year on Thursday.

    “This weakness is a clear indication of a global economic contraction…fundamentals have been deteriorating for some time but now the eternal bulls have thrown in the towel,” Faber said on Friday. “In other words, the perception has changed.”

    Faber expects more weakness in industrial commodities, though he said agricultural commodities "look better".

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