What does Jim Rogers think of Gold?

Gold GCQ5, -0.86% is in a correction, and the correction has gone on for four years. Although I am not buying gold, I am expecting an opportunity to buy gold sometime in the next year or two. For instance, if gold goes under $1,000, I hope I’m smart enough to buy a lot more gold.

When I say under $1,000, it’s not that I know what I’m doing, it’s just that typically 50% corrections are normal. Before this is over, gold is going to end in a bubble. In the past, when there are collapses of confidence in government or currencies, people flee to gold. Part of the problem is that many people consider gold to be holy. They are mystical about it. Some mystics are surprised that gold goes down at all. When the next problem comes, people will lose confidence in the government, central banks, and paper money. That’s when gold goes up the most. That’s also when the central banks will do anything to save the day.


- in Market Watch

Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.