Wednesday, February 5, 2014

Rogers prefers Gold over Gold Mining Shares

 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).
JIM ROGERS BLOG