Expect more correction in gold and silver: Jim Rogers (Economic Times)
Sunday May 8th, 2011
In an interview with ET Now, Jim Rogers, Chairman, Rogers Holding, gives his views on the recent decline in commodity prices, and says corrections like this are normal, it is the way the markets work. Excerpts:
ET Now: With the decline that silver has seen over the last one week of almost 30%, would these be right levels to possibly start buying some more right now?
Jim Rogers: I have no idea. I am not good at market timing. I am not doing anything. I am not buying. I am not selling. I am just watching. Some of these things such as silver have touched astonishing amount. So they need a correction. Very welcome in the market as far as I am concerned. If you do not have corrections, you are setting yourself for serious problems later on.