Jim Rogers: 'If War Breaks Out, Play Commodities'

Monday, 04 Aug 2014 08:44 PM

By Dan Weil

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So far, the military conflicts in the Mideast and Ukraine haven't rattled financial markets.

But, "if war breaks out, then what you play is gold, oil, commodities, etc.," ace investor Jim Rogers, chairman of Rogers Holdings, told The Economic Times.

"War is not good for anything except for real assets, because people need real assets during the time of war, whether they are involved in the war or just protecting themselves."

Editor’s Note: New Warning - Stocks on Verge of Major Collapse

As for the Federal Reserve, as it withdraws its stimulus "interest rates will go higher or stock markets will go down eventually, or both," Rogers said.

"Unfortunately, when that happens, people in Washington — bureaucrats, academics, etc.— are going to get scared or will panic. . . . They are going to relent and start printing money again."

As for gold, "I am neither a buyer nor a seller," Rogers said. "I own gold. I would suspect there will be another chance to buy gold sometime in the next year or two. I am doing nothing at the moment."

Gold on Monday lost ground for the fourth time in the past five sessions. December gold futures fell $5.90 at New York's Comex and settled at $1,288.90 an ounce. On Friday, the December contract hit a six-week low for the most active contract of $1,281.

"The strength in the equity market is putting pressure on gold," Frank Lesh, a trader at FuturePath Trading, told Bloomberg Monday. "It’s clear that the U.S. economy is showing strength, even though the pace is slow."

Editor’s Note: New Warning - Stocks on Verge of Major Collapse

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