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%.

Saturday, June 1, 2013

Jim Rogers : Gold Price Correction Can Continue & Make a New Bottom


ET Now: So while on paper gold has been getting sold, the physical buying has picked up from the US to India now. Asian markets have paid premiums to acquire bullion in the past month. What do you read in the print?
Jim Rogers: That is not quite exactly true because gold ETFs have had big redemptions and people have been getting out of physical gold. Yes, the shops claim to be packed and some of them are and you talk about a premium, but that is because the shopkeepers would not lower the price. The shopkeepers are stuck with high-price gold and they would not sell it. But fortunately for them, people come in and pay absurd premiums. However, one does not have to pay those premiums to get gold these days.
ET Now: Where do you see silver and gold prices trading by the end of the year and would you advise long term investors that they should currently put money to work into gold and silver?
Jim Rogers: I do not know where gold would be at the end of the year. I am not buying gold, not selling any of my gold. If gold goes down low enough, I hope I am smart enough to buy more and silver as well.
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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