Gold going to Superfly to $3,500

Right, and monkeys might fly outta...forget that.  CLSA's Chris Wood is saying Gold could go to $3,500, however Wood is a bright strategist who in 2003 predicted the U.S. housing crisis. If anything is going to fly, let it be Superfly, all the way to $3,500, dig it baby.

Before even getting to the story, this dude is bad, and he ain't just fly, he's Superfly

CLSA's Chris Wood is now saying Gold could go to $3,500, however Wood is a bright strategist who in 2003 predicted the U.S. housing crisis. 

“The collapse of securitization is a much more deflationary situation in the U.S. than anything seen in Japan when the bubble collapsed in the early 1990s,” Wood, Institutional Investor’s top-ranked Asia strategist, said at a conference in Tokyo sponsored by CLSA. “What we need in the future is a more fundamentally disciplined system, even at the cost of higher levels of growth.”

Gold may be the safest haven for investors as policy makers accelerate responses to the crisis, devaluing currencies versus hard assets such as gold in the process, said Wood. Gold is likely to more than quadruple from the current level of $986 per ounce currently to $3,500 in 2010, he said.

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