Tuesday, Oct 13th, 2009
Famed investor Jim Rogers is “quite sure gold will go over $2000 per ounce during this bull market.”
Rogers’ confidence gold will continue to rally stems from a view the U.S. dollar is on its way to losing status as the world’s reserve currency.
“Is it going to happen? Yes,” Rogers says. “I don’t like saying it [and] I’m extremely worried about it but we have to deal with the facts. America is not getting better [and] the dollar is going to be replaced just like pound sterling [was].”
Rogers didn’t offer a timetable, and it’s likely gold would exceed $2000 per ounce if the dollar were to lose its reserve status.
This article was posted: Tuesday, October 13, 2009 at 10:26 am