Sunday, September 13, 2009

Gold futures cracked the $1000 level in Asian trading

Market Report from Asia - Gold at 1000

In today's market report gold futures cracked the $1,000 level in Asian trading. It comes as doubts about the U.S. dollar's strength and global economic recovery resurfaced. But traders doubted gold will keep the six-month peak, particularly if risk-aversion waned and equity markets resumed gains. Global gold demand fell almost 10 percent in the second quarter as recession curbed jewelery demand, falling over 30 percent in India alone. Regional companies linked to mining or gold were mixed in the wake of the move with Australia's Lihir Gold gaining and China's Shandong Gold dipping. Overall, Asian shares edged higher by midday, with food-related firms gaining on Kraft's $16.7 billion for Cadbury, boosting hopes of more sector acquisitions.
Category: News & Politics
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Gold Jim Rogers Asia China news gold global asian gaining month overall mixed mining kraft lihir markets particularly peak

Jim Rogers on Farming and agriculture

Jim Rogers Recent Quote on Food prices and farming business

“If we don’t have people going towards farming and prices are going up, we are not going to have any food at any price”

Said Jim Rogers

Chinese Government is wise to buy a lot of energy and raw materials when prices were low

"the Chinese Government is very wise to buy a lot of energy and raw materials when prices were low. In another 15 years, the world will be shocked by how much energy the Chinese 4 trillion Renminbi gets." Jim Rogers said
Rogers thinks that China's future is very promising. He gives the highest score to Chinese government's response to the crisis in the world. The Chinese government has accumulated a lot of resources and capital in the past 50 years. Now they have begun to put it into infrastructure, and investment health care, education and other causes. In the future the competitiveness of China will be very strong.

He adds, however, Guangdong and other provinces need to focus on exports to domestic market, other Asian countries such as India, Africa and South America. The purchasing power of the United States is unlikely to be as strong as in the past, but rather a long-term decline.

Via People's Daily Online

Real estate prices too high in China I am not a buyer Jim Rogers

Investment guru speaking at the International Financial Services Conference (CIFSC) held in Guangzhou recommends real estate in farming and mining areas

When the U.S. real estate prices were 30% to even 40% lower than its peak in 2006, China's real estate prices are hitting a new high. Is there a bubble in China's housing market now?

On this issue, Rogers believes that real estate prices in Shanghai and Hong Kong are too high, and he will not buy, because in the past he has suffered such losses. He added, when any commodity

price goes straight up, we need to be on the alert, and can not follow blindly to make purchase. If you have to buy real estate, I will go for agricultural areas and mining areas, because the farmers will become increasingly rich, and mineral resources will become increasingly valuable.

Via People's Daily Online

Who is Jim Rogers ?

James "Jim" Rogers was born in Oct. 19, 1942 and grew up in Demopolis, Alabama .Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%. They ran what is considered to be one of the first truly global macro hedge funds. . In 1964 he got his first job on Wall Street at Dominick & Dominick in the summer between high school and Yale University, that's how he got his first experience with stocks and bonds. He immediately fell in love with the job. After Oxford, he returned to the U.S. and joined the army in 1970 he returned to Wall Street, working again with Dominick & Dominick. That same year he joined Arnold S. Bleichroeder, where he met George Soros, and together founded the Quantum Fund. This has opened a new era of global macrotrading and inspired numerous imitations and spin-offs. In the book "Money Masters of Our Time," Jim Rogers writes about that time "the most important thing in my life was work. I did not do anything until I had completed my work." To emphasize this professional ethic , it is good to remember that he did not made any holiday for ten years. In 1980, Jim Rogers has decided to "retire" at 37 years. Since then he has spent much of his time traveling and supporting the causes of philanthropic and taking on many high profile roles in the media. However, he continues to be an active investor and media commentator

Mr. Jim Rogers is Independent Director at Xylem, Inc., a Member-American Section at Société de Chimie Industrielle, a Member-Executive Committee at Sequoyah Corp., a Member at The Business Roundtable, and a Member-Executive Committee Sequoyah Council at Boy Scouts of America.

He is on the Board of Directors at Xylem, Inc. and LORD Corp.

Mr. Rogers was previously employed as a Member by American Chemistry Council, Inc., President by United Way of Greater Kingsport, Executive Chairman by Eastman Chemical Co., Chairman & Chief Executive Officer by Eastman Ventures, Chief Financial Officer & Executive Vice President by Building Materials Corp. of America, Chief Financial Officer & Executive Vice President by GAF Corp., Executive Vice President-Finance by International Specialty Products, Inc., Treasurer by Amphenol Corp., Vice President-Finance by Morgan Guaranty Trust Company of New York, and Naval Aviator by United States Navy.

He also served on the board at Genencor International, Inc.

He received his undergraduate degree from the University of Virginia and an MBA from The Wharton School of the University of Pennsylvania.