Thursday, October 15, 2009
Jim Rogers: Gold Will Hit $2000, Dollar Will Lose Reserve Status
October 15, 2009
Famed investor Jim Rogers is “quite sure gold will go over $2000 per ounce during this bull market.”October 15, 2009
Rogers’ confidence gold will continue to rally stems from a view the U.S. dollar is on its way to losing status as the world’s reserve currency.
“Is it going to happen? Yes,” Rogers says. “I don’t like saying it [and] I’m extremely worried about it but we have to deal with the facts. America is not getting better [and] the dollar is going to be replaced just like pound sterling [was].”
Rogers didn’t offer a timetable, and it’s likely gold would exceed $2000 per ounce if the dollar were to lose its reserve status.
Still, “I wouldn’t buy gold today,” Rogers says. “I think I’ll make more money in other commodities, which are cheaper,” as discussed in more detail here.
Posted by The Info Revolution at 2:58 PM