Tuesday, November 15, 2011

Gold Price "Will Reach $2400" says Jim Rogers - BullionVault

THE DOLLAR Gold Price is set to reach $2400 per ounce, according to legendary investor Jim Rogers, cofounder of the Quantum Fund with George Soros in 1973. Despite his prediction, Rogers says he is more interested in Buying Silver.

The Gold Price "will easily go to $2000, but it will reach $2400 over the course of the bull run, which has years to run," Rogers told CNBC this week.

Rogers also predicts the Gold Price will enter bubble territory – though he says this may be some way off yet.

"The way bull markets work is they go up and up and then by the end they turn into a bubble and that will happen to gold...[but] that could be five years, 18 years or six years...I own both, I'm not selling either but if I had to buy one today I would buy silver."

HSBC meantime also expects the Gold Price to breach $2000 per ounce in the near future.

"We are looking for an average of $2025 for next year with a wide trading range of $1700 to $2300," says HSBC precious metals analyst James Steel, adding that he expects "highly volatile markets".

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Jim Rogers

Warren Buffett

Nouriel Roubini