Pros Say: Gold to Spike to $3,000

Tuesday, 24 Feb 2009 | 7:12 AM ET

Safe haven plays like gold and the dollar were down again Tuesday, despite the fall in global stocks, as concerns grew about the financial system, scaring investors off. Experts expect the precious metal's rally to continue past the record $1,030.80 it hit last March.

Gold May Spike to $3,000

As governments print more money to pull the global economy out of a recession, Hans Goetti, CIO of LGT Bank in Liechtenstein tells CNBC that gold may spike to $3,000 a troy ounce as a result.

Gold at $1,200 Reasonable

Daryl Guppy, CEO of Guppytraders.com charts the short-term outlook for gold. He discusses whether the precious metal can revisit the $1,000 level.

Gold is a Safe Haven for Investors

As gold prices hover around the $1,000 point, Paul Burton from GFMS World Gold expects the price of gold to increase, due to the fact that gold is a an "asset of last resort" and is a "tangible asset."

Fear Sparks Gold's Rally

Gold Bricks
Gold Bricks

Gold is rallying on the fear of investors, says Burkhard Varnholt, chief investment officer at Bank Sarasin.

Riding Gold's Wave

A pull back in gold is healthy for now, says John Licata, chief investment strategist at Blue Phoenix. He speaks to CNBC about gold's pullback from its rally.

Correlation Between Gold & Dollar

The correlation between gold and the dollar was broken in late 2008 and early 2009 but it is now back in place, notes Daryl Guppy, CEO of Guppytraders.com.

Dollar Weakness Unlikely to Last

The dollar fell following reports that the U.S. government may up its stake in Citigroup to as much as 40%. But Licia Kok, Treasury economist at United Overseas Bank Group tells CNBC that the dollar's weakness is unlikely to last.

Short-Term Bullish on Dollar-Yen

Callum Henderson, head of FX strategy at Standard Chartered is short-term bullish on dollar-yen.

Dollar-Yen Cross to Hit 100

John Kyriakopoulos, head of currency strategy with National Australia Bank, says dollar is largely supported by risk aversion, and with the yen struggling, the dollar should reach the 100-yen mark.

South Korean Won Looks Oversold

Daryl Guppy, CEO of Guppytraders.com charts Asia's currencies including the Australian dollar, baht and South Korean won. Adrian Mowat, chief Asian & emerging markets equity strategist at JPMorgan tells CNBC that the won is oversold.

Oil, Soybean Prices to Rise

The price of commodities such as oil and soybean could follow gold's recent rally higher, Chris Locke from Oystertrade.com Management told CNBC.

Look for Quality Stocks: CEO

Investors should look for good companies that have been beaten down, but have a long-term future, Douglas Blattmachr, president & CEO of Alaska Trust Company told CNBC. Nouriel Roubini, chairman of RGE Monitor & NYU professor, joined the discussion.

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