The former sidekick of George Soros, Jim Rogers, chairman of Rogers Holdings and investor known for his forecasts on the commodities market, has announced that an ounce of gold would continue to grow year after year until it reaches the 2,000 dollars within ten years. "The dollar is a dollar very imperfect" and "U.S. debt is held outside the country is progressing rapidly every year and I do not think Washington cares," he said to support his predictions.
In his statements, which were recorded on the sidelines of a conference of ETF Securities in New York, Jim Rogers also discussed progress continues to be held on the commodities market as a whole. The oil or sugar and should see their prices rise with a steady increase in global demand and supply reduction over the years.
Jim Rogers said that Asian countries in growth would be the main actors of this bull cycle in commodities.
New historic high
The ounce of gold hit a new historic high in sitting for the third straight day in familiar terms from the 1061.6 dollars late Thursday afternoon. Jim Rogers, who said "like gold" wished to draw the attention of investors on two other metals called "noble" that are silver and palladium, platinum derivatives. "The money is still 70% below its historic high," he said, as palladium.
A native of Alabama, Jim Rogers founded the Quantum Fund in the 70's with another now famous investor George Soros. Only ten years it has been necessary to build a fortune and retire at the age of 37.Specialist materials, it has launched a fund dedicated to market "commodities" in 1998 when the commodities market had just experienced two decades of decline.