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Jim Rogers favours silver over gold but is buying neither for now
Source: BI-ME , Author: BI-ME staff
Posted: Thu October 1, 2009 12:55 am
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INTERNATIONAL. Legendary global investor and chairman of Singapore- based Rogers Holdings, Jim Rogers reiterated, today that he is not buying equities or commodities at this stage, given the recent rally induced by governments' injection of huge amounts of money into the world economy. 

In an exclusive interview with India's CNBC-TV18, Rogers said: "The governments around the world are pouring huge amounts of money into the world economy. It has to go somewhere and the easiest, best way for it to go is in the financial markets."

Answering a questions about his views on gold, Rogers said: "I own some gold and I am optimistic about the price of gold but I don’t think I would buy it either. The gold is near its all-time high, I think I would rather buy silver for instance if I had to buy a precious metal. However, I am not buying either at the moment."

"I certainly would not sell any precious metals — if they go down, I plan to buy more and maybe a lot more," he added.

Addressing the US Dollar, Rogers reiterated his pessimism, saying "in fact, the US dollar long-term is going to be a disaster."

However, he concludes that because many people have sold the dollar short, it would not surprise him if there were a big rally. "If a rally comes, I plan to sell that rally but I am not selling the dollar down here," he said.

Rogers is very worried about the Western economy. "If you start seeing more problems in the West, it is going to have an effect on most markets around the world as certainly some of the emerging markets," he said.

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