Monday, October 4, 2010

Jim Rogers~ Gold Will Hit $2,000: Commodities Rally Still Strong

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Well-known commodities investor Jim Rogers told CNBC, one reason gold will continue to gain is because of what he called the failed policies of the Federal Reserve, its Chairman Ben Bernanke, as well as Treasury Secretary Geithner and other government officials. He said their efforts to prop up the economy have made things worse, not better. "Adjusted for inflation it should be well over $2,000 now."
He also said silver may even be a better buy now than gold because it is well off its historical high, while gold has been setting a series of new peaks lately. Rice will do well among soft commodities, he predicted.

"Look at the things that are cheap. Gold is making all-time highs, silver is still 60 percent below it's all-time highs," he said. "So if I was looking at a precious metal, I would look at the places that are still cheap."

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