Tice: Gold Could Pass $3,000
Friday, October 16, 2009 9:44 AM
By: Dan Weil

David Tice, famous for his bearish stock trades, is bullish on a different asset: gold.

The precious metal recently jumped to a record high above $1,060, and Tice, Federated Investors chief portfolio strategist for bear markets, sees further gains ahead.

"We certainly could have a pullback at some point," he told Yahoo! News.

"However, we believe this rally in gold is going to on for a long time."

How far can it go?

“We don’t think it will end until we get to $2,500, $3,000 or so. And gold could go beyond that,” he says.

That’s because of inflationary economic policy, Tice maintains.