Roubini says oil, gold look overpriced

(Reuters) - Oil and gold are overvalued at current prices, which do not reflecting their market fundamentals, economist Nouriel Roubini said at the Reuters Investment Outlook Summit on Tuesday.

Roubini, who is known for having predicted the financial crisis that rocked the global economy in the past two years, painted an economic backdrop of deflationary risks and warned that if oil keeps climbing toward the $100 level it would deal an "economic shock" similar to the one last seen in 2008.

The recent rally in oil, which sent prices to an eight-month high above $73 per barrel, was "too high too soon," Roubini told the Reuters Investment Outlook Summit in New York.

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