Friday, April 29, 2011
Commodities bull Jim Rogers has admitted he is worried that silver might go “parabolic” and crash later this year. The 69-year-old investor remains confident that gold will continue to rise but says that if silver continues to rise at its recent rate, “you’ve got a bubble”.
Rogers is well known for attracting press attention, famously moving his family to Singapore because Asia is “how Europe used to be”. However, investors will particularly interested in his view on silver as he has made several well-timed calls on commodities in the past.
Rogers made his name by co-founding the Quantum Fund with George Soros in the ’70s but it was the launch of his first resource fund in 1998 – which benefitted from rising commodity prices in the following decade – that established him as a ‘commodity guru’.
Speaking to a US radio station, Rogers acknowledged that “people are starting to notice gold” but remains confident that gold has plenty to rise. “Eventually everybody’s going to be owning gold, and then we’ll have to sell our gold. But that’s a long way from now.”
This article was posted: Friday, April 29, 2011 at 7:27 am