Jim Rogers: Gold bull market has a long way to go

"During gold’s hysterical phase, which Rogers said could take place in 5 to 7 years; everyone will be buying the yellow metal, he said. In the interim, Rogers said we will see more Asian banks buying gold, citing Bangladesh’s recent purchase of 10 tonnes of the IMF gold."

“For somebody who owns no gold, I would say go ahead and buy some silver. If you desperately need to buy gold it is better to buy things when they are going down not when they are racing high,” he said. However, he added that everyone should own some gold as insurance if for nothing else."

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