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Journalism of Courage
Veteran investor and commodities expert Jim Rogers revealed that he owns both gold and silver and has no plans to sell either. In an interview with Business Today, Rogers said he doesn’t believe in timing the market and, at current price levels, doesn’t intend to buy more of the two metals either.
Rogers also revealed that he had recently bought some silver during its price surge, but has never sold any of his gold or silver holdings. He further advised investors to start accumulating small amounts of these metals eventually, though he emphasised that this isn’t the ideal time to buy.
“If gold and silver prices go down from here, I would love to buy further quantities,” he said, adding that his investing approach has always been to purchase commodities when they are undervalued or ignored by the market. “When they are down and when nobody wants them, that’s when I tend to buy more. I don’t ever want to sell my gold and silver. I want my children to have them someday,” Rogers told Business Today.
Rogers also noted that the silver’s strong performance was partly because it had declined more steeply in the past. “Silver rallied more because it had fallen more,” he explained. “Gold, on the other hand, was already making all-time highs a few months ago.”
He described his investment philosophy, saying, “I’m not very smart. But I know if something is down, I would rather buy it than something at a new high. But I own both, and I am not selling either.”
Rogers also shared concerns about global debt and monetary policy, pointing out that most governments are printing large amounts of money. “The US is the largest debtor nation in history,” he said. “When most countries are de-basing their currencies, owning gold is usually the best way to protect yourself.”
