Thursday, June 24, 2010

Jim Rogers Loves Gold, Buys Silver

Though it still has a long way to go over the next decade, gold is at an all time nominal high and Jim is holding not buying. Silver on the other hand is 60-70% below its all-time high - a great opportunity to buy.

Longer term on gold: Some day EVERYBODY will own gold; walking down the street checking gold prices in shop-front windows...


At 6/24/2010 7:38 PM, Blogger BxCapricorn said...

Gold keeps topping out,and for the past couple of years, cannot get above $1300, even with the Middle East buying TWICE as much as previously disclosed. What happens if the financials rally tomorrow, based on the continued watering down of the financial reform bill? Money flows out of PM's and into stocks for one silly, end of quarter rally, bolstered by projected earnings beats, left and right. If banks start to loosen their death grip on capital, and allow companies to use inventory and other assets as collateral, this whole jobs problem can finally start clearing up.

In short, oil sector is the best buy right now. WE shorted silver via ZSL when it dipped below $31.

At 6/25/2010 9:12 AM, Blogger BxCapricorn said...

Okay, today I shorted silver again with ZSL at $30.90. Gold and silver are topping out and financials are starting to rally. Oil just bottomed, so despite the DOW composite being down, we just started a stock rally.

At 6/25/2010 7:39 PM, Anonymous Anonymous said...

I think rogers is right about the mania that could come. But I think it will take longer than ten years just because the financial press and brokers hate gold. I don't think they'll ever recommend to their clients to buy gold because they can't make any money that way. This bull market will go on as long as fiat currencies aren't backed by anything and governments keep printing.


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