Jim Rogers: Gold Price to Double in Coming Months

Asheron

The rally in gold prices has driven several bullion analysts to frenzied forecasts. Some say gold prices will reach $2,000 per ounce soon. Others are predicting big boom for the yellow metal, saying gold prices will zoom to $5,000 and eventually to even $15,000 per ounce in the years to come.


What is happening in bullion market these days? Yes, agreed that weakening dollar, global economic meltdown, shrinking gold supply and increasing cost of mining gold from the earth are all making gold the most-sought after investment these days. That is also driving the yellow metal prices to record highs.

These days, the biggest gold buyers are not individual customers or families, but global central bankers that are vying with each other to accumulate gold reserves in an attempt to get out of their decades-old dependence on the US dollar as the best asset class. India jumped into the bullion fray to buy 200 tonnes of gold from the International Monetary Fund (IMF) early this month. Other countries like China, Russia, Brazil and Sri Lanka are frantically trying to accumulate gold reserves.

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G_M

Gold has been rising all year. At some point it will peak, and perhaps burst (the bubble, that is!). Predicting when, of course, is......

Reaper

You seem to have quoted rather selectively from that article to support your pro-gold views.

For example you missed out this bit:

Investors like Rogers are not putting in money into gold these days because they know sensibly well that investing in yellow metal is “nonsense.” Because, gold price is at its peak these days, and anyone putting in money in gold at this high rate will be taking a huge risk.

sabretoothtigger

Rogers has said himself he is a rubbish short term speculator. I think it'll double at some point though, could be the next few months but I would guess not because that money flow is not ready to happen all at once without remit

We need to see a decline in various prices and when it trends back up again the bias is much more towards gold and commodities in general, it should be a series of waves imo

barrooo

The rally in gold prices has driven several bullion analysts to frenzied forecasts. Some say gold prices will reach $2,000 per ounce soon. Others are predicting big boom for the yellow metal, saying gold prices will zoom to $5,000 and eventually to even $15,000 per ounce in the years to come.

Best short it then

jon3001

Asheron wrote: »

Some say gold prices will reach $2,000 per ounce soon. Others are predicting big boom for the yellow metal, saying gold prices will zoom to $5,000 and eventually to even $15,000 per ounce in the years to come.

So how much is my next suit going to cost me?

Asheron wrote: »

It has long been said that an ounce of gold will buy a custom tailored men's suit.


In the 1930s, an ounce of gold cost $35, and a suit was nearly the same price.

Today, gold trades for $1150 and a custom suit does as well.

theGrinch

maybe he has an interest in talking up the market
its usually the way.
only invest in things you understand.

bendix

What's great about Asheron is that he comes on here sporadically, selectively posts about the gold boom (ignoring the negative sentiment in the same article) and then is never seen again, until he finds another similar article and does the same again.

It's rather sad and pathetic to be so obsessed with one subject, yet refuse to engage in debate on it.

Biggles

theGrinch wrote: »

maybe he has an interest in talking up the market

The market's too big to be 'talked up' by bizarre postings like Asheron's.

Basically, he's a troll.

ses6jwg

It is sensible to attribute part of ones portfolio to gold.

I am looking at putting a few hundred into a gold ETF in my ISA come April.

But I find this "goldbug" hysteria very worrying and it could lead some people astray and leave them out of pocket.

A bit of sense is required.

theGrinch

Biggles wrote: »

The market's too big to be 'talked up' by bizarre postings like Asheron's.

Basically, he's a troll.

thanks but Im talking about jim rogers or anyone of that elk.

the notorious ones are fund managers!