His name is Chris Wood. He has been voted the #1 strategist in Asia 6 times since 2002. His biggest claim to fame is being the investment strategist credited with being the first to predict the US sub-prime meltdown. He is well respected. Also, he works for the #1 Brokerage firm in Asia - CLSA. The firm's research team has also been voted the number #1 Research team in Asia. As you can see, big time reputations on the line here.
He assigned the $3,500 US price in a presentation today. I don't know if he has a new timeframe though. It seems like he increased his target by $500, as I saw something from February 11, 2009 where his target was $3,000 by 2010. That timeframe seemed really aggressive to me, but I guess you never know. Again, I don't know if he changed his timeframe with the new target of $3,500 US.
Chris Wood recommended that institutions should have a 30% gold explosure. This is an unheard of gold exposure percentage for institutions.
Oddly enough, there was a second call out today for $3,500 US gold. Henry Smyth, Director of Granville Cooper Gold Funds, says gold will hit $3,500 US an ounce over the next two years.
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