Chief strategist at CLSA predicts record gold run
Leo Lewis
Date: September 19, 2007
It would be the biggest run on gold since the attempted French invasion of Britain of 1797 that sent prices through the roof.
The precious metal, long a safe haven for investors, yesterday was predicted by a leading analyst to quadruple within three years as buyers seek shelter from prolonged turmoil in mainstream financial markets.
According to Christopher Wood, chief strategist at the broker CLSA, market ructions and a collapse of the dollar could send gold prices to more than $3,400 an ounce within the next three years.... Wood predicted that investors would soon realise that the sub-prime crisis is simply the catalyst of a much wider breakdown... "This is not a sub-prime crisis. Sub-prime has merely exposed the bigger scam of structured finance; a scam that is about pretending that bad credit is good credit," he said.
CSLA is a leading provider of equity brokerage, investment banking and asset management services. Their clients include global institutional investors, corporations, governments and high net worth individuals. CSLA was voted 'No. 1 Overall Research and Sales' for the last 15 years in Asiamoney Brokers Poll of Polls 2004 as well as 'No. 1 Overall Research and Sales' and 'Most Independent Brokerage House' in the annual Asiamoney Brokers Poll in 2004.
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