Investor Jim Rogers May Buy Gold If Prices Drop to $1,300 (Bloomberg)
Sunday April 28th, 2013
Jim Rogers, who predicted a commodity rally in 1999, said he may buy gold if a bear market deepens and prices fall to $1,300 an ounce or below.
Bullion for immediate delivery tumbled to $1,321.95 on April 16, the lowest since January 2011, stoking a frenzy among coin and jewelry buyers from the U.S. to India and Australia. Rogers, the chairman of Singapore-based Rogers Holdings, hasn’t bought any bullion after the slump, he said in an interview.
“If it goes to $1,300, I hope I am smart enough to buy some,” he said in Singapore. “If it goes lower to $1,200, I hope to buy even more. If... that’s not a prediction.”