Jim Rogers Says All Parabolic Moves End Badly,
Gold and Silver Not Yet in a Bubble
global investor and chairman of Singapore-based Rogers Holdings,
Jim Rogers warned that if silver continues to go up like it has
been over the past 2 or 3 weeks and reaches triple digits in 2011,
he will probably start to think about selling because then 'you've
got a bubble'.
Survival Radio, Rogers said: " My hope is, silver and gold
and all commodities will continue to go up in an orderly way for
another ten years or so, and eventually the prices will be very,
something stops it going up in the foreseeable future and we have
a correction," he added.
his wish, Rogers warned that "a parabolic move and all parabolic
moves end badly".
dont notice something until theres a good, nice bull
market in place, such as with gold and silver, he said, adding after
ten years of price rises in gold, people are starting to notice.
everybodys going to be owning gold, and then well all
have to sell our gold. But thats a long way from now, he predicted.
investor doesn't consider the recent increases in precious metals
continues to go up like it has been over the past 2 or 3 weeks,
yes, then it would get to triple digits this year. And then well
have to worry. Its not parabolic yet".
never one in history that hasnt popped," he noted.
The price of
gold bullion jumped above US$1500 per ounce on Wednesday, setting
new Dollar and Sterling highs but falling sharply against the Euro
as the single currency rose to its highest level since 2009.
prices remain very strong, but seem to have run ahead of the fundamentals,"
says bullion bank Scotia Mocatta's latest Metal Matters monthly.
setting its 8th new 31-year high in 13 trading days so far in April,
"If gold corrects expect silver to follow," says Scotia.
"Longer-term [gold] investors generally seem comfortable to
hold their existing positions...[yet] the level of interest is low
considering how much uncertainty there is in the market and how
weak the dollar has been."
watching the dollar and the price action in deciding when it is
time to exit precious metals.
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Rogers has taught finance at Columbia University's business school
and is a media commentator worldwide. He is the author of Adventure
Gift to My Children, and A
Bull in China. See his
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