Jim Rogers and Peter Schiff have been gold bulls for some time, and also agree that the value of U.S. dollar will continue to diminish over time based on the misguided policies and practices of the Federal Reserve.
Rogers continues to maintain gold will rise for years to come, and believes it should be trading at about $2,000 an ounce, comparing to the the former all-time high of $850 an ounce after being adjusted for inflation.
Even so, he still says gold will eventually reach $2,000 sometime in the next decade.
Peter Schiff has been even far more optimistic, predicting gold price could rise as high as $5,000 an ounce. Schiff also believes the rise in the value of the U.S. dollar is just a temporary bump and it'll resume its loss in value.
Both oppose the policies of the Federal Reserve and see U.S. bonds as extremely negative at this time.
Concerning other commodities, Rogers still likes zinc and cotton, with cotton putting pressure on many companies with heavy exposure to it and lower margins.
He also likes silver, which many commodity experts think will be the trade of the next decade. He believes it could definitely reach $50 an ounce again, and possibly go much higher.
Thursday, December 16, 2010
Jim Rogers, Peter Schiff Remain Bullish on Gold
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2 comments:
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