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Jim Rogers Looking for a Correction in Gold

November 29, 2011

Jim Rogers Looking for a Correction in Gold

jim rogers cnbc gold bug investor singapore passive correction price level support income metal commodity .jpgJim Rogers, long time commodity investor and advocate of owning gold told CNBC today that he believes the current pull-back in the price of gold will continue. Mr. Rogers is holding out for gold to break at least the $1600 / ounce level before buying any more of the glittery metal. While he’s not ready to sell yet, he said an even sharper pull-back to the $1200 / ounce level would make him “extremely excited” !


Current Gold Price

Gold is up currently to $1716/ ounce – it has been trading fairly consistently near the $1700 level for the last week or so as the financial markets continue to try and sort out the various mixed messages coming from the EU (European Union) debt crisis meetings.
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China & India Gold’s Largest Consumers

As China and India remain large consumers of gold many believe that the overall upward trend of the last 11 years remains firmly in place with some experts calling for gold to retest the $2000/ ounce level within the next 12 months.

Jim Rogers

Jim Rogers lives in Singapore with his wife and two children. He partnered with George Soros in the early 1970’s to build and grow the Quantum Fund. He is currently occupied with his latest fund started in February 2011, The Rogers Global Resource Equity Index fund.  To learn more about Jim Rogers and his outlook on gold and the economy check out his website at www.jimrogers.com

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2 Comments
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  1. Gold Drops Again – Approaches $1600 Mark « Gold Bug Investor

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