Jim Rogers Says Now Is The Time To Buy Gold And Silver

Jim Rogers Says Now Is The Time To Buy Gold And Silver

$GLD, $SLV

Gold marked a record high of 1,923 oz in September 2011, since it has seen a Fibo 38% to 1,194, as the U.S. economy has sustained a moderate to mild recovery.

But that mildness has made the Fed slow to raise interest rates. Most economists do not expect the Fed to move until at least September and some not at all this yea, the continuing low rate environment should give Gold a boost, as it will likely lead to higher inflation in the US economy.

And some participants see Gold as an attractive alternative to frothy stocks and bonds, as Gold is  cheap relative to fixed income assets. Gold could really pop and move North.

We believe the Fed will raise rates once and then they will not to do anything for a while and that will be good for Gold.

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Jim Rogers has been Bullish Gold for years, but that does not mean he sees the precious metal’s strength lasting forever.

“Gold is going to turn into a bubble eventually, and when it turns into a bubble, I hope I’m smart enough to sell it,” he said, when asked what would push him to sell his gold holdings.

“On the other hand, on the down side, I’m not quite sure that I can think of anything that would cause me to sell my Gold. If nothing else, it’ll be for my children someday.”

Mr. Rogers sees major financial trouble ahead in the US. “The United States is the largest debtor nation in the history of the world,” he said. “No debtor nation has ever gotten like this, and the debts are going higher and higher. That is a reason to own Gold and Silver.”

Stay tuned…

HeffX-LTN

Paul Ebeling

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