Wednesday, June 19, 2013

There Are Some Short-Term Factors Hurting Gold

"It’s gone up 12 years in a row. I don’t know of any asset that goes up 12 years in a row. So just from a technical point of view, maybe it needs to go down some more. But from a fundamental point of view it will be a buy. There are some short-term factors hurting gold. The Indians are trying to restrict the purchase of gold, as it’s the source (along with oil) of their trade deficit. I have not sold my gold and plan to buy more if it keeps dropping. And yes, I did call for a correction a while back, and sometimes I do get it right!" - in 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).