Jim Rogers: Gold to Zoom $2000, Crude $150–$200
Source: Commodity Online (10/9/09)
". . .the precious metal will top $2,000 in a decade."
Here are his recent takes on major commodities:
Commodities: The boom is not yet over, bull market has several years to go.
Gold: No bullish view as fundamentals not supportive. But the precious metal will top $2,000 in a decade. Gold will surpass its inflation-adjusted all-time high of more than $2,300 an ounce, Rogers said, according to a Bloomberg report. He said that the timing will depend on many factors, including global politics.
Crude oil: Could touch $150 to $200 as known reserves decline and crude oil will run out in 15–20 years, "unless something happens."
Natural Gas: Is very cheap now.
Sugar Futures: Is at a 28-1/2 year high, could go higher in a decade.
Silver and Palladium: Bullish view. Silver is still 70% below its all-time high," while palladium, standing at around $310 an ounce, is also much lower than its high above $1,000 an ounce hit in early 2001. Rogers said he owns all four major precious metals: gold, silver, platinum and palladium.
Currencies: Apart from dollar, Jim Rogers owns currencies such as the Japanese yen and the Singapore dollar and agriculture commodities such as sugar. He described dollar as a "flawed currency."