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%.

Tuesday, March 11, 2014

Gold Price : Why did it fall in 2013



Q: Strong Chinese physical demand for gold didn’t stop gold’s fall in 2013. Why did gold fall so hard in 2013?


Jim Rogers : One, we had an anomaly in the gold market. Gold went up 12 years in a row, which is very strange and unusual for any market. When the correction came, it too was an anomaly. At the same time, the Indians – who were the largest buyers of gold in the world – Indian politicians started blaming their problems on gold. So they took many measures to cut back their demand for gold, successfully.
Gold is still going down. India was a much bigger buyer than anyone else – so obviously when you take out demand from the largest buyer of anything, it causes a correction. That’s what been happening. Nothing unusual about it.
At the same time, many speculators and investors were cutting back after the 12-year bull market. That plus the Indians overwhelmed Chinese demand.
I still am not buying gold in any big way yet, because there are still too many mystics, too many people who think that gold is holy. I don’t see how the markets can make a bottom until a lot of those mystics get shaken out of the market. Once they throw in the towel, then gold will make a significant bottom, and I hope I’ll be buying a lot more at that time.  - in IBTimes



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%.
Jim Rogers "the 19th century was the century of the UK , the 20th century was the century of the US , the 21 st century is going to be the century of China "
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