Thursday, February 27, 2014

Indian Import Tariffs Biggest Drag on Gold

The Bernanke-sceptic has remained cautious on the outcome of a cut-back by the Fed of its QE programme on the stock market this year. ‘The US is going to cut and the markets are going to go down. The central bankers will then get scared and start printing more money again,’ he said. ‘I’m not selling my gold but I’m also not buying any at the moment. There are still lots of passionate believers in gold and until they sell their gold, I think it will have a bottom.’ Whilst he sees Indian import tariffs as the biggest drag on the gold price, he retains a neutral position on the bullion and remains most bearish on long term bonds. - in City Wire

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).