Gold to rise much higher in this decade, do not sell it: Jim Rogers By ET Now Feb 22,
2012, 10.46PM IST
With continuous monetary easing from China, how
much support do you see going in for commodities and liquidity
eases with the biggest commodity consumer?
Throughout history when you have people printing money
and debasing currency, the way to protect yourself and to
make money is to own real assets. Silver, rice, natural
gas, and those are not specific recommendations. I am just
saying those are natural resources. You now have the Bank
of Japan, the Bank of England, America, the Chinese apparently
are loosening up. Everybody is now loosening the money supply,
printing money. That's good for real assets.
It has been few good days for the base metal prices
as well. They are seeing strength on China easing and strong
economic data as well. How do you forecast base metals from
If the world economy gets better, the shortages of nearly
all commodities are developing and I am going to make money
in the commodities. If the world economy does not get better,
they are going to print a lot more money. The place to be
is in real assets, including base metals. I do not own as
many base metals as I own precious metals, but I own them
How would you look at the gold prices then because
1750 has been a resistance for a very long time? How do
you see gold amidst the low interest rates from the US,
Europe and those concerns from the Middle East as well?
If somebody starts bombing Iran, everything in the world
is probably going to go down for a while except maybe gold.
Maybe the US dollar would go up initially, but probably
everything would be hit in the shock except maybe gold.
So I own gold. I am not selling my gold. I bought some gold
on Monday a little bit. Not very much, but if gold goes
down a lot, I would buy. I hope I am smart enough to buy
a lot more gold. Gold is going to go much higher over the
course of this decade. Do not sell your gold, not yet.
How about the crude oil prices, which have been
making multi-month highs due to Iran's supply concerns?
It is pretty clear that many people in Washington DC and
in America who want to do something with Iran, there seem
to be many people in Israel who want to do something with
Iran. I find it madness if they would even think about something
like that because if they do, it is going to cause all sorts
of havoc in the world and retaliation, but people do foolish
things all the time.
It looks as though something is going to happen. It is
not going to be good for any of us if and when it happens.
I am not investing as it was going to happen other than
the fact that I do own oil and I own commodities, but I
hope it does not happen, but it looks like it will.