Jim Rogers: Gold Price to Double in Coming Months

CommodityOnline
November 27, 2009
The rally in gold prices has driven several bullion analysts to frenzied forecasts. Some say gold prices will reach $2,000 per ounce soon. Others are predicting big boom for the yellow metal, saying gold prices will zoom to $5,000 and eventually to even $15,000 per ounce in the years to come.
What is happening in bullion market these days? Yes, agreed that weakening dollar, global economic meltdown, shrinking gold supply and increasing cost of mining gold from the earth are all making gold the most-sought after investment these days. That is also driving the yellow metal prices to record highs.
These days, the biggest gold buyers are not individual customers or families, but global central bankers that are vying with each other to accumulate gold reserves in an attempt to get out of their decades-old dependence on the US dollar as the best asset class. India jumped into the bullion fray to buy 200 tonnes of gold from the International Monetary Fund (IMF) early this month. Other countries like China, Russia, Brazil and Sri Lanka are frantically trying to accumulate gold reserves.
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Jim Rogers Gold over $2000 an ounce in the next decade

Jim Rogers on the Gold rally 25 November 2009

Maria Bartiromo interviewed commodities legend Jim Rogers, creator of the Rogers International Commodities Index about the gold rally and wher he sees things going from this point :
"JIM ROGERS
Well, I own gold and I have for a while. How high can it go? I fully expect it to be over a couple thousand dollars an ounce sometime in the next decade—I didn't say the next month, I didn't say the next year, I said the next decade—because paper money around the world is very suspect. But right now everybody's bullish on it, so I don't like to buy things when that's happening. But I'm not selling under any circumstances."
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Jim Rogers Buy Physical Gold not Gold Stocks or Mining Stocks

Jim Rogers Gold can Go down 20% next year

In a recent interview with The street.com of 18 November 2009 reknown economist Jim Rogers recommended buying Gold not Gold ETFs or stocks , he also in other recent interviews advised to stay away from Gold mining stocks unless you know that that mining company is going to find a huge gold mine next year ! so is Jim Rogers a well known gold bug will continue to buy more gold in this over heated market or is he thinking to short it , his answer was :
Jim Rogers: I don't ever like to buy something making all time highs however I'm not selling my gold. Gold is going to go much higher in the course of the bull market. Doesn't mean it can't go down 20% next year but during the course of the bull market it is going to go much higher it is certainly not a bubble yet.
and when Jim Rogers was asked about what he thinks of mining stocks he answered :
" Not with my money. The studies show that you would make more investing in commodities themselves rather than commodity stocks unless you are a very good stock picker. If you are a good stock picker, unless you find a company that is going to discover silver in Berlin you buy all you can and then you call me and I'm going to buy it too ....short of something like that and there are a hundred gold stocks and most of them don't pan out. But if you own gold, gold is making all time highs. "
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