Jim Rogers predicts "more turmoil" in the currency markets, more problems in the stock market, weakness in bonds and, ultimately, inflation.
Posted Oct 06, 2010 07:30am EDT by Aaron Task
"Gold could correct for a few months [but] the bull market in gold is not over - far from it," he says. "I'm much more bullish on agriculture than I am even on gold. I own both."
In the meantime, he owns the Swiss franc, euro and yen but is not actively short any currencies, including the greenback.
In case of a correction, I see immediate support at US$1,250 an ounce, followed by US$1,200 an ounce.
Related post:
Gold can double from here over the next 5 years.
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4 comments:
I had been told about Gold SAvings account sometime ago.
A quick search reveals this article - and I had just checked with the bank's hotline. Details are still valid.
http://create-wealth-james.blogspot.com/2009/07/how-to-invest-in-gold-in-singapore.html
Then there is a gold certificate - S$5 fee and storage fee of $30/kg/year. Not sure if i can convert this certificate into physical gold bar.
Well, as usual, I would say that I should have entered when it was US$800 range (thats when i was told about this savings a/c). But as a cantonese saying goes, "If I had known" , then there will be no beggers.
Will this be an alternative investment for me, in addition to the focus on high yield stocks & REITs. Yes but not a priorty. I am still not sure yet.
SnOOpy88
Hi SnOOpy88,
I was fortunate enough to act when gold was US$800 an ounce but I was convinced to buy physical gold instead of paper gold. Gold certificates and gold savings account cannot be converted into physical gold. You could have this point verified with UOB.
Each of us would have different priorities in life. Investing in precious metals might not be a priority for someone in the early stages of wealth building, for example.
Investing in precious metals, to me, is about protection against the damaging effects of inflation. We do not want to see our wealth eroding away.
Investing in precious metals is also about diversifying away from paper investments (e.g. stocks and bonds) which is the reason for buying physicals if we have a choice.
I will buy more gold (and silver) if a correction takes place to the supports I have identified. :)
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Also I get a lot in your website really thanks very much i will come every day
Hi Anonymous,
A hearty welcome to you. Best wishes from us in Singapore to you in Italy. Do visit often.
Could you leave your name or initials in your next comment? Thanks. :)
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