Jim Rogers : GOLD has not made its final bottom yet , because there are still lots of mystics who believe gold cannot go to $1,200

 Business Insider : Were there other things you were watching that made you think gold prices would fall? Emerging market demand or perhaps the Fed?
 
Jim Rogers : There were lots and lots of mystics who were convinced that gold was holy. That gold could not go down, that gold had to go up. And that's the reason I think gold hasn't made it's final bottom yet. It's because there are still lots and lots of mystics, people who tell me gold cannot go to $1,200. I say open your computer you'll see it is $1,200. Don't tell me it can't happen.
Many people think this can't be happening or it's being manipulated and there's all sorts of excuses for what's going on. You know when you have people that are faithful, or true believers, you usually don't hit a true bottom until most of those people get washed out. I suspect that is still to come. I don't think many of the true believers have sold their gold yet. - in Houston Chronicle




Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary 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%.