Jim Rogers : "Gold on any kind of historic market basis is overdue for a nice correction," CNBC was told by investment author and commodities-fund manager Jim Rogers overnight.
"It's been correcting for 15-16 months now, which is normal in my view. It's possible that gold's correction is going to continue for a while longer."
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%.