Tuesday, January 28, 2014

Metals overdue for a rally

There are huge shorts that have developed in precious metals, as you know. So it is overdue for a rally. We had a big drop in 2013 and everybody got negative and short. So we are going to have a rally, though I do not think too much of the rally. I am not going to buy or sell on that rally, though. I expect that later in the year, things will go down again and hopefully we will make a nice bottom eventually and we can buy gold again.

Jim Rogers is a investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.