SINGAPORE (Commodity Online): Legendary global investor and chairman of Singapore-based Rogers Holdings, Jim Rogers says he is not so bullish on gold which crossed $ 1050/oz on Thursday.

Rogers told a news agency that gold has hit a new high and he doesn’t like to buy something at record prices unless there are extremely strong fundamental reasons.

“I can’t say what will happen to gold tomorrow or next month. But if you ask me whether gold will go up in the long term, maybe in the next decade, I would say yes,” he added.

“I certainly would not sell any precious metals — if they go down, I plan to buy more and maybe a lot more,” Rogers said recently.

Rogers has long held bearish views on the dollar, which he called terribly flawed, and bullish views on commodities and China.

He has also been highly crtitical of US monetary policy. Recently he was quoted as saying: “How can the solution for debt and consumption be more debt and more consumption? How can that be the solution to our problems?”

“What we’re doing now is we’re taking the assets away from the competent people and giving them to incompetent people and telling them ‘now you can compete with competent people with their money’.”

“We’re going to have zombie capitalism for the next 15-20 years. How long are you going to let the bureaucrats run the thing so we can’t have a clean system?”

Rogers has spent a career being one step ahead of mainstream investment thinking.  He rose to fame after co-founding the now-closed Quantum Fund with George Soros nearly four decades ago. During his ten years with the fund, the portfolio gained more than 4,000%, while the S&P rose less than 50%

The Quantum Fund shot to fame after making more than $1 billion betting against the British pound in early 1990s.