Jim Walker, chief economist of CLSA was the guest host on Asian Squawk Box. Right before he signed off he mentioned that CLSA's gold analyst, Chris Wood, thinks gold will go to $3600 by the end of 2010. While Dr. Walker did spell out a bullish case for gold that was not that different from other bullish cases, there was not enough time to get into how Mr. Wood arrives at the target.
It is possible that Wood is not the analysts last name. Dr. Walker has a Scottish accent that is so thick that I can't be sure I heard the name correctly, but I did hear $3600 correctly.
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4 comments:
Have you ever seen the chart about the correlation between the DJIA & the price of gold?
Basically gold inflates in price and the DJIA plummets until they reach parity.
Happened in the 1930's with the Dow & Gold (both at 35), in the 1970's with both getting to 800 and some would say we're going to see it again.
Kondratiev business cycle. Now is the time for commodoties.
Exactly why gold, oil etc.. have done so well lately.
A bunch of jumbled mumbo. They see corelations where none exist and full bore linear panic. The last time gold hit $800 it was headed for a brazillion bucks. Didn't happen then, won't happen now.
The blond was reading a paper and the headline was, "Twelve Brazilian Soldiers Killed In Riots."
She turned to her friend and asked, "How many is a brazilian?"
Yep, Christopher Wood Emerging Markets Analyst at CLSA he has written a number of pieces on gold, you can google him
I can't imagine the type of apocalypse that would converge gold and the Dow 30. Someone smart should spend time trying to assess the convergence of gold and the S+P 500. That would have much more interest.
Brazilian is not a quantity (humor attempt)?
Thanks for the Wood clarification. Dr. Walker's accent was thinker than Mike Meyers in "so I married an axe murderer." I have the scene where he calls William a sputnik tivo'd.
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