Jim Rogers : Gold Price Correction likely to continue; may touch a new bottom

 Jim Rogers: A correction in precious metals was long overdue, which I have discussed with you and others many times. Gold was up 12 years in a row, which is extremely unusual for any asset. I don't know about any asset in history which was moving up for 12 years without a declining year. So gold was overdue for a correction. Normally things correct 30-40% every year or two. So, the anomaly in gold was the price action for 12 years. Now hopefully we are having a long overdue and necessary correction. It may take a bit longer for gold to make a new bottom or sound bottom, and then the bull market will continue.- in ET Now


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%.