Noted commodities investor and author of bestselling books like Hot Commodities and A Bull in China, Jim Rogers says investors should continue to buy gold, silver and copper as governments across the world are dishing out heaps of printed currencies with declining values.
Rogers’ comments came in the wake of the deep debt crisis that the Greek government has been caught in and the joint ongoing efforts from European Union countries to salvage the sinking Greek economy.
Rogers, who is well-known for articulating his faith in commodities investments, says that the bankruptcy of Greece should in fact benefit currencies like the Euro. In fact, he said, the European countries should allow Greece to go bust because it would then immensely help the Euro.
Rogers, who has been predicting that gold price would surge to $2,000 per ounce in the next 10 years, said that commodities like gold, silver, platinum and copper offer the best bet for investors because the governments are printing lots of money to help revive the global economy. According to him, printing money is not an answer to solve the economic problems that the world is caught in, but buying commodities is going to be a sure-shot strategy as sound future investment.
Jim Rogers has asked investors not to be panicky on the volatile gold prices. Gold price traded weaker this week, dropping by $10 to $30 per ounce in fluctuating trading at spot and futures bullion markets. Last week, it appeared that gold price may have been ready to challenge its 2010 closing high of $1,151.71 — reached on January 11. But gold was once again unable to mount an attack. Some bullion analysts have been quick to predict that gold prices are set to plunge as global demand for the yellow metal has declined thanks to peak price in the last few months.
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.