Jim Rogers: Gold price correction will last for several months; buy on dips

[bobbyw24]

In an interview with ET Now, Jim Rogers, Chairman, Rogers Holdings, shares his outlook on commodities and the falling rupee. Excerpts:

Gold has been down 10% in the past week and is at an 8-week low today. Given this, what is your outlook for gold prices and do you see gold near $2000 per ounce in the near to medium term?

We have discussed before that gold has been up 10 years in a row, which is very unusual in any asset class. So if it is up this year or 11 years in a row, gold is overdue for a correction and it could have a nice substantial correction given that it has been so strong.

I have no idea what is going to happen this year. I doubt if it will go to $2000 an ounce in 2011, it is more likely to have a correction which will last for several weeks, several months. It has been very strong. If it goes down some more, I would buy more gold as I have told you many times.

Silver has been one of your favourites, but that is down 24% in the past week. Are you still buying?

http://articles.economictimes.indiat...ilver-and-gold

[QE Is Theft]

I think right now is a fantastic physical buying opportunity.

[libertybrewcity]

Any chance JR has a home in New York?

[bobbyw24]

Ha

I think he lives in Singapore or China

[swissaustrian]

Ha

I think he lives in Singapore or China

Singapore

[bobbyw24]

I think right now is a fantastic physical buying opportunity.

Hmm Should I get some physical Silver or buy shares of SIL?

[ctiger2]

Jim is right and Martin Armstrong in his debut KWN interview said we could trade sideways to down until June '12. After that, Gold could go on a 3 year tear.

[Seraphim]

Long haul = physical, no doubt.

Short term trading = ETF's

Hmm Should I get some physical Silver or buy shares of SIL?

[Jazzy222]

Well you elaborated topic very well

[stu2002]

Is this one of those times to buy??