Saturday, September 8, 2012

The situation with gold is that it has been up 11 years in a row without a down year

Jim Rogers: Unfortunately all central banks know to do is to print money. Most of them will anyway, and you are going to see more money printing, more debasement of currency and therefore, the price of gold will go much higher over the course of the decade. Whether it goes up this year or not, I do not know. The situation with gold is that it has been up 11 years in a row without a down year, which is extremely unusual. I do not know of any asset that has been up 11 years without a down year. So gold is correcting. It would be normal for gold to continue to correct and have a down year. Such markets are supposed to do so. Whether it is going to do, that I do not know, but I do know that gold is going to be much higher over the decade. - in India Economic Times

Jim Rogers is a bestselling author, financial commentator and successful international investor. Rogers was a co-founder of the Quantum Fund (considered to be the first truly international fund of its kind) and is the creator of the Rogers International Commodities Index (RICI).

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