"Gold shares are the most attractive asset class within the equity market – they have been hammered over the last three years and are showing signs of bottoming out," he said.
Faber's call is based on his bullish outlook for the precious metal this year, which he expects will trend higher as confidence in the ability of central banks to solve global economic woes dwindles.
"When confidence in central banks finally collapses, then gold has a 30 percent upside potential, easily, this year," he said in an interview with CNBC in January.
He recommends gaining exposure to gold miners through exchange traded funds such as The Market Vectors Gold Miners ETF (GDX), the Junior Gold Miners ETF (GDXJ) and Sprott Gold Miners ETF (SGDM).
Faber, however, cautions that the trade is not for the faint of heart.
"If someone is more risk inclined, he will do better in gold miners [than physical gold]," Faber said in an interview with Washington DC based TV channel RT America last week.
"There's a higher risk [in the miners], it's more volatile. Gold prices drop $200, the miners are going to get slammed. Gold goes up by $100, [the miners] go up by a higher percentage," he said.
- Source, CNBC