Jim Rogers On Gold: ‘I Expect The Correction To Continue’

Well-known investor Jim Rogers was recently interviewed for Palisade Capital’s Palisade Radio, “The fastest growing radio show in junior mining.” Collin Kettell, Partner and CEO at Palisade, spoke to the former investing partner of George Soros about a number of topics. Rogers said about gold:

KETTELL: Back in mid-2103 you were interviewed by Kitco News at Freedom Fest in Las Vegas where you called for a continued correction in the price of gold. And as a precious metals investor I remember hoping that your call would be dead wrong. But here we are nearly two years later- gold is just started to perk up. Any new thoughts on the price action of gold today?
ROGERS: I expect the correction to continue. I expect another opportunity to buy gold in the next year or two, and if so, I hope I’m smart enough to buy it. Now, if America goes to war with Iran or something, I’ll be begging to buy gold at $1,600. But I expect another opportunity to buy gold in a decline sometime in the next couple of years.

The Singapore-based investor also talked about gold stocks. From the exchange:

KETTELL: And do you share the same feeling for the gold stocks, many of which are off closer to 80 and 90 percent? Are you an investor in any of the mining companies right now?
ROGERS: Well, I actually bought a mining ETF recently- a gold mining ETF recently- just in case. And your point is very valid that gold stocks have gone down a whole lot more than gold has. And sometimes you can make money in those stocks, or you should be buying them anyway in situations like that, because they can go up even if gold goes sideways. The can go up even if gold goes down just because they got beaten up so much. But I am not a big buyer. I just put a small, small, small toe in the wash.

“Jim Rogers: Gold Correction to Continue Into 2015 – 02/08/15”
YouTube Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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