Agreed that gold has emerged as the best asset class among bullion traders, central bankers and families across the world, how far can the yellow metal price surge?
One of the avid proponents who is arguing that gold price will surge past $2,000 soon is the legendary commodities investor Jim Rogers. Rogers, chairman of Singapore-based firm Rogers Holdings, says gold prices are booming because currencies across the world are dropping and the US dollar is collapsing. His latest forecast: gold will touch double the current price—around $1,150. Meaning, Rogers says gold will surge to $2,300 per ounce in the coming months.
But it is easy for renowned investors like Rogers to make forecasts like this. Rogers is a big commodities investor. He invests basically in agricultural commodities. He is going gaga over his commodities investments in the hot destination he loves, China. But is Rogers investing in gold these days? No, not to my knowledge. Investors like Jim Rogers love gold, but they hate to invest in gold at this high price.
Read more: Jim Rogers loves gold, but hates to invest in gold | 22 November 2009 | www.commodityonline.com