Jim Rogers turned bearish on gold back in December of 2012. Listen below as Jim Rogers warns of a major gold price crash way before it got started: [youtube]http://www.youtube.com/watch?v=zRmCYCAbRRk[/youtube] Then, in April after his prediction came true, he warned of "further consolidation and downside" for the precious metal as shown below. [youtube]http://www.youtube.com/watch?v=NO-4FKD-5A4[/youtube] Now, as of June 18th, Jim Rogers has been publicly stating that he is buying gold. Judging by his comments in the past, Mr. Rogers is more than likely purchasing physical gold. Source: http://dailysilverupdate.com/2013/06/25/jim-rogers-turns-bullish-buys-physical-gold/
I've had this same sentiment as Mr Rogers for a few of months now. He has a much more realistic view on gold and silver than do ANY of the perma-bull snake-oil salesman and stackers do....in my view.
I watched a video made on June 26th and he stated that he only bought a little gold. He appears to think it is going lower.
I love Jim Rogers! He is the only one who will tell us when he is not buying the metals, unlike some I will not mention who tell us to buy at any price
All gold bulls should look at and consider the following article http://www.mcoscillator.com/learnin...is_following_in_stock_markets_2009_footsteps/
The comparison to the Stock index is flawed. Whilst it is true the authors assertion that Gold has a floor, (quite incredulous to think it would not) Gold will not bounce up and fly away upwards like the stock market usually does for the simple reason that dividends and yields on shares encourages participants to purchase and over time continually drive the price up of shares. The recent share spike from cheap money saw yielding stocks being sought out and benefitting the most in price gain. Gold has no yield return and really as an asset of sentiment i am viewing the last big rise as being down to fear of an out of the ordinary economic meltdown and runaway QE money printing, now that the fed has put notice that it intends to stop this the price of Gold has plunged, and though it will stop plunging i see only sideways movement for the near future as this is how it historically Gold always behaved. If anyone is investing and counting on gold going much higher (2 da moon) they are effectively betting on runaway hyperinflation and more severe economic downturns. I am not debating these motives and whether they will happen however it is important to realise these events are historically quite rare and happen decades apart. Historically the sharemarket has always outperformed Gold and offered a much better return to investors plus some yearly returns to boot. Also heres an interesting chart showing the performance of Gold since July of 2002 against three large bubbles of the last 40 years. Including Gold in the late 70's. If it looks like a bubble and acts like a bubble.... http://www.macrotrends.net/1300/gold-at-3000-only-if-bubbles-repeat
The world doesnt have to end for gold to increast 500% - see 2001-2007 (and the present gold chart doesnt look anything like a blow-off topping pattern) And you have organised your chart assuming the 2011 peak is the peak of the bull market - I dont know that has been established yet (see oil over the first 5 years of the chart, old Gold bull over the first 7 years) by definition 'mania' means not logical - therefore your comments about yeild etc would assume everyone is acting somewhat rationally.
