NEW YORK (Commodity Online): In a recent article in TheStreet.com, Jim Rogers, renowned global commodities investor and author, said he doesn’t ever like to buy something making all time highs but he is not selling his gold. Gold is going to go much higher in the course of the bull market. He also warned that it doesn’t mean it can’t go down 20% next year but during the course of the bull market it is going to go much higher and whatever you are seeing is not a bubble yet.

Jim also said that being a contrarian, he should be selling gold when others are buying but he said he should be selling at the top, but he doesn’t think this is the top. Gold, if you adjust it for its old highs, adjust it for inflation back in 1980, gold should be over $2000 an ounce right now. “In my view, in this bull market in commodities gold will make all new highs adjust for inflation,” he said in the article.

However, he said he doesn’t support buying mining stocks. “The studies show that you would make more investing in commodities themselves rather than commodity stocks unless you are a very good stock picker. If you are a good stock picker, unless you find a company that is going to discover silver in Berlin you buy all you can and then you call me and I’m going to buy it too ....short of something like that and there are a hundred gold stocks and most of them don’t pan out. But if you own gold, gold is making all time highs,” he said.

Jim also owns silver. He thinks that if you were buying gold or silver right now, silver would be a better buy. “I mean gold is making all time highs, but silver is 70% below its all time high. Now, if my thesis is right about commodities that they’re going to make new all time highs, obviously you would make that much more money in silver than in gold,” he advised the investors.

About palladium and platinum, he said he owns them all. “I think probably now the better plays would be palladium and silver but again let me hit you over the head and say I am world’s worst market timer and trader. I think you would make more money with silver and palladium at this point but I own all four — gold, silver, palladium, platinum,” the wizard said.
(Source: TheStreet.com)

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