Gold at these level is quite oversold but it Could Fall to $1,100/oz

Marc Faber , author of the Gloom, Boom and Doom Report, tells CNBC that he thinks gold could fall to $1,100 an ounce by the end of the ongoing sell-off "We overshot on the upside when we went over $1,900," he said "We're now close to bottoming at $1,500, and if that doesn't hold it could bottom to between $1,100-$1,200." he added



Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.