Jim Rogers Says Gold Not a Bubble, Silver a Better Buy
Commodities / Gold & Silver 2009 Dec 12, 2009 - 11:24 AM GMTBy: Submissions
Commodities are still a great place to invest, while some currencies also offer value and investors should stay away from US stocks and bonds, Jim Rogers, chairman of Jim Rogers Holding, told CNBC Thursday.
Rogers has long been bullish on commodities, especially since central banks started to print money to combat the financial crisis.
He is holding gold right now and despite the recent spike in the metal's price, said he things the market is not experiencing a bubble.
"I wouldn't think of selling," Rogers said. "If gold goes to $1,000 (per ounce) – or pick a number – I hope that I'm smart enough to buy more."
With central banks now buying gold and many people worried about paper money, gold will be a great investment over the next decade and relatively few people are invested in it, he said.
At a speech in Prague Rogers surveyed about 300 people, including big money managers, and 76 percent had never owned gold, he said.
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