Jim Rogers Expects Gold to Top $2,000 In a Decade

By on October 12, 2009

Jim Rogers, speaking Thursday on the sidelines in a conference held by ETF Securities in New York, said gold prices will keep rising as protection against a weaker U.S. dollar. Rogers stated, “The dollar is a terribly flawed currency. Foreign debts are increasing rapidly every year, and I don’t think Washington seems to care.”

Rogers said prices of other commodities, such as oil, copper, and sugar, will continue to rise in the long term as the world faces more demand, but shrinking supplies. He added, “There was very, very little new productive capacity brought on line in the past 30 years for commodities. We have shortages developing throughout the world.”

Demand for commodities, meanwhile, is on the rise, especially from Asia, he said. “Thirty years ago, the last time we had a bull market in commodities, Asia was not in the game…and now they are all trying to live like we do.”



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