Jim Rogers forecasts gold prices at $2000 by 2019

Global commodities investing legend Jim Rogers has clarified on the gold price prediction that he has recently made. He said on Thursday that gold prices will hit $2000 per ounce within the next one decade or by 2019.

Rogers has come out with the clarification as varous media reports said that he has forecast gold prices to touch $2000 per ounce by 2010.

In an e-mail to Commodity Online, Jim Rogers said: “I have never said gold would be US$2000 by 2010. I said within the decade – or by 2019.”

Rogers who has been a commodities bull has consistently said that the US dollar is collapsing and that is the real reason behind the economic ills that is plaguing several nations and sectors across the world.

Jim Rogers who has been arguing that the US dollar is collapsing is buying dollar these days? Yes, the commodities investment legend told a conference in New York this week that he has been buying dollar for the past two months with the hope to sell them in the near-rebound.

“Yes, I have been buying US dollar in the last two months betting on the dollar’s near-term rebound,” he told the Reuters Investment 2010 Outlook Summit. But he said there are too many bears in the dollar market.

Jim Rogers, who is now settled in Singapore and who designed the Rogers International Commodity Index (RICI)--a composite, US dollar-based, total return index, pointed out that the global economy is going into a deep mess and the US dollar is collapsing, day by day. “The collapsing US dollar is putting the global economy into a deeper crisis,” he added.

Rogers has been predicting that gold prices are on a bull run, powering the great commodities bull run that will last for the next one decade.

Rogers, a commodities investment champion who is bullish on agricultural commodities, has recently argued that gold prices are going up thanks to budget deficits across several countries in the world.

Jim Rogers said:

“Gold’s recent price surge is thanks to budget deficits. “Deficits are going berserk nearly everywhere. Throughout history, printing money has led to weaker currencies and higher prices for real assets.”

“here are many, many pessimists about the dollar, including me. So many pessimists that I suspect there's a rally coming.”

“I have no idea why there should be, but things do usually rally when you have this many bears at the same time. I've actually accumulated a few more dollars.”

There is sense in what Jim Rogers is saying. He should know, as some of his best known books like Adventure Capitalist, Investment Biker, A Bull in China, and Hot Commodities have been eye-opening to the world economy, commodities market and investment ideas.