Buying Gold | Jim Rogers: <b>Gold</b> Below $1,000 Represents A <b>Buying</b> Opportunity <b>...</b> | News2Gold |
| Jim Rogers: <b>Gold</b> Below $1,000 Represents A <b>Buying</b> Opportunity <b>...</b> Posted: 17 May 2014 11:11 PM PDT  Jim Rogers: Gold Below $1,000 Represents A Buying Opportunity International commodities investor Jim Rogers says Gold will present a buying opportunity sometime in the next 2 yrs. The precious Yellow metal has advanced 8% YTD. But it has stalled around 1,300 since early April. June Gold futures settled at 1,293.30 Friday, + 0.4% on the week. "I'm not buying Gold at the moment," Mr. Rogers said. "But if the opportunity comes along, and it will in the next year or 2, I will buy more." A 50% decline from Gold's September 2011 record high at 1,923.70 would fit the bill, he notes. And "if America goes to war with Iran, I would be begging to buy at 1,600." Asset classes frequently drop 50% every 3 to 5 yrs, so a major correction for Gold is possible, Mr. Rogers argues. The Big Q: Why has gold been unable to sustain its rally this year? The Big A: China, the top Gold buyer in the world, has shown a lessened public appetite for the precious Yellow metal, and investors around the world have demonstrated a preference for stocks. "European and American stock markets are going through the roof. So people say they would rather put their money in stocks that are going up," Mr. Rogers explains. "Most people buy what's going up instead of what's going down."
Last Updated: 16 May 22:15 GMT Stay tuned… HeffX-LTN Paul Ebeling The following two tabs change content below.   Paul Ebeling is best known for his work as writer and publisher of "The Red Roadmaster's Technical Report" on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.  | ||||||||||||||||||
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