Tags: Rogers | gold | debt | long

Jim Rogers: Why Gold Has Rosy Outlook for Long Run

By    |   Monday, 19 May 2014 09:17 AM

Gold's correction from its 2011 record high isn't over yet, but the precious metal will represent an excellent investment for the long term, says star investor Jim Rogers, chairman of Rogers Holdings.

Gold peaked at $1,923.70 an ounce in September 2011. June gold futures settled at $1,293.40 Friday on the Comex.

So why is Rogers bullish for the long run?

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"There is going to be chaos out there over the next decade," he tells GoldSeek. "It could be a monetary disaster or even war. This turmoil could come from a gigantic debt problem, which could cause world economies to fall apart."

The only solution politicians know is money printing, Rogers notes. "So that's what they end up doing. We will see a wave of turmoil from all this that will surely take gold higher."

And what about the short term?

"I am on the record extensively since the fall of 2011 saying that gold would be going down for quite some time," he argues. "That is still happening. I am not rushing to buy gold. I also have not sold any of my gold."

A 50 percent drop from the record high is possible, he notes. That would put gold at $962.

Hedge fund star John Paulson believes in gold too, though it's not clear whether he's bullish for the short term, long term or both.

Paulson & Co., the largest investor in the SPDR Gold Trust ETF, left its stake at 10.23 million shares, worth $1.27 billion, as of March 31. The share total has stood at that level for three straight quarters, Reuters reports.

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Gold's correction from its 2011 record high isn't over yet, but the precious metal will represent an excellent investment for the long term, says star investor Jim Rogers, chairman of Rogers Holdings.
Rogers, gold, debt, long
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2014-17-19
Monday, 19 May 2014 09:17 AM
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