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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Jim Rogers: Buy Gold on Dips , Gold Price Correction May Take Awhile

Jim Rogers: Buy Gold on Dips , Gold Price Correction May Take Awhile

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CSE.SAS

CSE.SAS
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Investment Guru Jim Rogers told Indian magazine The Economic Times of India that the gold and silver prices will readjust. Now is the time to buy up silver and gold, if you can get it.

Jim Rogers : “I doubt if it ( Gold Price ) will go to $2000 an ounce in 2011, it is more likely to have a correction which will last for several weeks, several months. It has been very strong. If it goes down some more, I would buy more gold as I have told you many times.”

“Not yet, but if silver continues to go down as we have discussed before, I will buy more silver too. Do not sell your silver, do not sell your gold unless you are a short-term trader, but anybody who is in this for a long term, silver and gold will both go much higher over the next few years.”

“It is panic, it is fear. When fear permeates a market, everybody sells, especially the last ones in, frequently have to jump out. They have raised margin requirements for both silver and gold. So that makes it more and more difficult for people to hold on.” - in ET Now

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