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Gold Will Hit $2,400 Bubble: Jim Rogers
Posted By yihan On November 9, 2011 @ 8:19 am In Money Watch | Comments Disabled
Wednesday, November 9, 2011
Gold has many years left on its bull run, but the precious metal will eventually reach a bubble, famed investor Jim Rogers told CNBC Wednesday.
“It will easily go to $2,000 but it will reach $2,400 over the course of the bull run, which has years to run,” said Rogers, the CEO and chairman of Rogers Holdings.
“It will end in a bubble when this is over. The way bull markets work is they go up and up and then by the end they turn into a bubble and that will happen to gold.
He said, however, that such a bubble is still years from happening.
“That could be five years, 18 years or six years,” he said.
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