Monday, April 22, 2013

Jim Rogers explains the gold sell off

Jim Rogers on the key downward pressures on Gold: - India raised its gold import tax from 4% to 6%, which has limited the demand for gold in the world’s largest market for the metal. - Technical analysts and chartists have been arguing that prices would fall. - The collapse of the Bitcoin over the past two weeks coincides with many of the digital currency’s owners also owning gold. - Cyprus has to sell part of its gold as part of its bailout. source: Business Insider

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).