"I don't know any asset that gone up 12 years without a down year, and gold needed and deserved a correction," he said, pointing out that the predicted price then of $1,2000 was within the usual 35 to 40 per cent correction.
Jim Rogers May Interview - Gold Price Crash, Bottom Prediction & 2013-2014 Price Forecast
Legendary Quantum Fund manager Jim Rogers made a prediction about gold prices. This week, his prediction rang true as gold and silver prices took another huge hit. In the aftermath, gold prices are now down approximately 30% since reaching an all-time high in August 2011. According to Rogers gold prices have even further to fall. "I have repeatedly babbled about $1200-1300/oz., but that is just because that would be a 30-35% correction which is normal in markets," he told Business Insider this week. "But I am a hopeless market timer/trader."
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%.
