Tags: rogers | commodities | boom

Rogers Sees Long Commodities Boom

By Ellen Chang   |   Friday, 16 Oct 2009 09:48 AM

Jim Rogers says commodities remain a good investment and the boom will last.

Rogers, the well-known investor and chairman of Rogers Holdings, told Yahoo! News that investors should stick with commodities since they have outperformed stocks.

So far this year, gold reached new record highs of over 1000 per ounce, oil is bouncing back from its March lows and copper has almost doubled.

“The story is not over, not for a while. I don't see any reason it's going to be over for a few years because no one is bringing new supply on stream,” Rogers said.

See David Skarica's Top Gold Stock Picks for 2009 — Click Here

Although Rogers still owns gold, it is not his favorite metal in which to invest.

“Gold is mystical to many people. I think I'll make money in other commodities that are more useful,” he said.

Rogers is a much bigger fan of agricultural commodities.

“Most agricultural products are still depressed on a historic basis,” he said.

Rogers says the low supply of agricultural products is troublesome.

“A catastrophe is looming. The world is going to have a period when we cannot get food at any price in some parts of the world,” he said.

Other investors say inflation is on the horizon.

“Gold serves as a hedge against inflation, and even though we are in the midst of a recession worldwide, the sniff of inflation is already in the air,” Richard O’Brien, chief executive officer of Newmont Mining Corp., the largest U.S. gold producer, told Bloomberg News.

Commodities such as wheat, sugar and cocoa all rose in part from a weak dollar and improved energy outlook, Reuters reports.

"We are seeing some profit-taking in a market that appears to be overbought and probably fundamentally overpriced," Michael Gross, a copper futures analyst at Optionsellers.com in Tampa, Fla., told the newswire.

© 2017 Newsmax. All rights reserved.

1Like our page
2Share
StreetTalk
Jim Rogers says commodities remain a good investment and the boom will last.Rogers, the well-known investor and chairman of Rogers Holdings, told Yahoo! News that investors should stick with commodities since they have outperformed stocks.So far this year, gold reached new...
rogers,commodities,boom
307
2009-48-16
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved