GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Tuesday, December 25, 2012

Jim Rogers : Gold Correction may not be Over Yet - Be Cautious

Jim Rogers turned cautious about Gold in a recent CNBC interview "Just be careful, there're too many bulls, including me, but I'm very cautious," Rogers told CNBC. "Gold is having a correction— it's been correcting for 15-16 months now— which is normal in my view, and it's possible that [the] correction is going to continue for a while longer.""Most things correct 30 percent every year or two, even in big bull markets – 30 percent corrections are normal and yet gold has only done that once in the past 12 years," Rogers said. "Gold on any kind of historic market basis is overdue for a nice correction.""India's got a big balance of trade deficit – some Indian politicians are starting to blame it on gold," Rogers said. "[If they] figure out a way to cut or crimp imports of gold – if something like that happens, that will be a big shock to all those bulls on gold and who knows how low it can go.""If gold goes down – I hope I'm smart enough to buy more. If it goes down a lot, I hope I'm smart enough to buy a lot more," he said.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...