Rogers prefers gold over gold mining
shares and divisible coins over bullion, but says “there's nothing in
precious metals that I'm tempted to buy at the moment.” Indian import
tariffs he views as the single biggest drag on the gold market
currently.
“They've got a huge balance of trade deficit and the
three largest parts are oil, gold and cooking oil. They cannot do
anything about oil or cooking oil, so they're attacking gold, blaming
their problems on gold. Gold has not caused their problems, gold is a
symptom of their problems, but politicians are pretty simple-minded
people and they look for the easy answer.”
For early 2014, Rogers
is therefore long inflatable equities and neutral on gold, but longer
term, he expects to short junk and government bonds and is ultra bullish
on gold. “Gold will become one of the only refuges around,” he says.
“That's not this quarter.”
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).
