Gold to rise much higher in this decade, do not sell it: Jim Rogers By ET Now Feb 22,
2012, 10.46PM IST
With continuous monetary easing
from China, how much support do you see going in for commodities
and liquidity eases with the biggest commodity consumer?
Throughout history when you have people
printing money and debasing currency, the way to protect
yourself and to make money is to own real assets. Silver,
rice, natural gas, and those are not specific recommendations.
I am just saying those are natural resources. You now have
the Bank of Japan, the Bank of England, America, the Chinese
apparently are loosening up. Everybody is now loosening
the money supply, printing money. That's good for real assets.
It has been few good days for the
base metal prices as well. They are seeing strength on China
easing and strong economic data as well. How do you forecast
base metals from here?
If the world economy gets better, the shortages
of nearly all commodities are developing and I am going
to make money in the commodities. If the world economy does
not get better, they are going to print a lot more money.
The place to be is in real assets, including base metals.
I do not own as many base metals as I own precious metals,
but I own them all.
How would you look at the gold prices
then because 1750 has been a resistance for a very long
time? How do you see gold amidst the low interest rates
from the US, Europe and those concerns from the Middle East
as well?
If somebody starts bombing Iran, everything
in the world is probably going to go down for a while except
maybe gold. Maybe the US dollar would go up initially, but
probably everything would be hit in the shock except maybe
gold. So I own gold. I am not selling my gold. I bought
some gold on Monday a little bit. Not very much, but if
gold goes down a lot, I would buy. I hope I am smart enough
to buy a lot more gold. Gold is going to go much higher
over the course of this decade. Do not sell your gold, not
yet.
How about the crude oil prices,
which have been making multi-month highs due to Iran's supply
concerns?
It is pretty clear that many people in Washington
DC and in America who want to do something with Iran, there
seem to be many people in Israel who want to do something
with Iran. I find it madness if they would even think about
something like that because if they do, it is going to cause
all sorts of havoc in the world and retaliation, but people
do foolish things all the time.
It looks as though something is going to
happen. It is not going to be good for any of us if and
when it happens. I am not investing as it was going to happen
other than the fact that I do own oil and I own commodities,
but I hope it does not happen, but it looks like it will.