Thursday, June 27, 2013

Thank Goodness for Gold Correction

Kitco News asks Jim Rogers his take of current events like Deutsche Bank's new gold depository in Singapore and the two new Chinese ETPs. Rogers also talks about how India's Finance Minister Chidambaram repeatedly urges the public to stop buying gold, stating heavy gold imports hurt the Indian economy. Finally, Rogers says that the gold correction in April was necessary for gold to avoid an even worse crash. Despite the April sell-off  Rogers is still purchasing gold, silver, platinum and palladium. In regards to Roubini's bearish comments on gold earlier this month, Rogers says he'll ignore those predictions.

- Source, Kitco News: