Famous US investor Jim Rogers warned about the rise in gold prices. Rogers stated that the rise under it could be risky and the possibility of such situations becoming a bubble should also be evaluated.
Investor and finance expert Rogers, known as the investment guru, criticized the policy of minting money of central banks and the devaluation of money. Rogers stated that he has gold in his hand, and continues to buy gold and silver.
“In a Way Risky”
Rogers stated that rising gold prices could be risky. Saying that the possibility of such situations being a “bubble” should also be considered, Rogers expressed his hope that things will not go that way.
Investor Rogers said:
“I hope I never have to sell my gold. I hope my children will have gold one day. Because I think everyone should have some gold and silver. This can be seen as a security policy. But of course there are risk factors. If things go wrong, it can turn into gold and silver balloons. In such a situation I have to sell. If the bubble occurs, you should not hold that asset in your hand. Because it collapses for a long time. I hope things don’t go that way. Gold is not over priced and there is no bubble. ”
Which Prices Can Be Seen Below?
Although he did not give a clear idea as to the level required for gold to be seen as a bubble, Rogers stated that the economic channels in the country should be followed. Rogers said:
“It might even be 10 thousand dollars but I hope it doesn’t go to that point. We can say maybe 6 thousand-7 thousand dollars per ounce. This would be a huge bubble and then I have to sell my gold. ”
Political Elections and Coronavirus
Jim Rogers evaluated the US choices with vaccine research and rumors for the new type of coronavirus epidemic that directly affects the market. Rogers said:
“There is an election in the USA. Politicians are doing their best to win the election, printing a lot of money. Things will get worse after the elections. Governments everywhere will print a lot of money. That’s when I expect gold to rise more. It can even reach 5 thousand. If it is priced too much, if it goes up to 10 thousand, then I can sell the gold I have. ”
Rogers emphasized that before the vaccination contest, one should mainly look at the US elections.