Is the gold boom coming on your way as Jim Rogers predicted? Last month, legendary commodities investor Jim Rogers predicted that gold prices will surge to a record $2000 per ounce, thanks to the plunging US dollar.
On Monday, gold soared to an all-time high of $1110 per ounce in global markets. Is Jim Rogers laughing all the way to bank, if he has invested in gold cheap some months or years back? Or is he laughing at Nouriel Roubini who has countered last week that Jim Rogers’ prediction of gold at $2000 per ounce was simply ‘nonsense.’?
Here is an interesting article on the ‘fight’ between two legendary personalities: Jim Rogers and Nouriel Roubini from moneynews.com:
Investor Jim Rogers successfully predicted a rally in commodities back in 1999. New York University economist Nouriel Roubini predicted the collapse of the housing market and financial meltdown back in 2006.
Now the two gurus are predicting each other to be incorrect. Rogers says Roubini’s forecasts for bubbles to pop in the gold and emerging-market stock markets is just wrong. “What bubble?” says Rogers, Bloomberg reported. “It’s clear Mr. Roubini hasn’t done his homework, yet again.”
According to Roubini, investors are borrowing dollars to buy emerging market stocks and commodities, which is inflating the value of those assets.
Jim Rogers has taught finance at Columbia University’s business school and is a media commentator worldwide. He is the author of Adventure Capitalist, Investment Biker, Hot Commodities, A Gift to My Children, and A Bull in China. See his website.