LONDON (Commodity Online): Global commodities investor Jim Rogers says gold is not a bubble that will burst and therefore he is not selling the yellow metal he owns even though gold prices have shot up by an incredible $540 per ounce in the last one year.

Rogers, known for his bullish forecast on commodities, said in an interview to CNBC that gold is making waves these days thanks to the purchases of the yellow metal by central banks.

He said he has not thought about selling the gold he has been buying all these years. “I own gold. Though gold prices have come down from a record high in the last one week, gold market is not on a bubble that will burst. I am not at all thinking of selling gold,” Rogers, who is now settled in Singapore and who designed the Rogers International Commodity Index (RICI), said.

He said if gold goes down to $1,000 per ounce in the near future, he will be smart enough to buy more gold.

Saying that commodities are the best investment assets these days, Rogers said: “With central banks now buying gold and many people worried about paper money, gold will be a great investment over the next decade and relatively few people are invested in it.”

At a speech in Prague, Jim Rogers surveyed about 300 people, including big money managers, and 76 percent had never owned gold, he said. "So when you say it's a bubble … nobody owns gold yet," Rogers said.

He said he prefers silver to gold, with silver 70 percent off its all-time high and gold near it's all-time high. “Agriculture indexes are also good to own.” Jim Rogers added.

Jim Rogers has also 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.

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