Silver a Better Buy - Rogers
Source: CNBC (12/11/09)
". . .silver 70% off its all-time high. . ."
Rogers has long been bullish on commodities, especially since central banks started to print money to combat the financial crisis.
He is holding gold right now and despite the recent spike in the metal's price, said he things the market is not experiencing a bubble.
"I wouldn't think of selling," Rogers said. "If gold goes to $1,000 (per ounce)—or pick a number—I hope that I'm smart enough to buy more."
With central banks now buying gold and many people worried about paper money, gold will be a great investment over the next decade and relatively few people are invested in it, he said.
At a speech in Prague Rogers surveyed about 300 people, including big money managers, and 76% had never owned gold, he said.
"So when you say it's a bubble. . .nobody owns gold yet," Rogers said.
Still, silver is preferable, with silver 70% off its all-time high and gold near its all-time high, he said.