Jim Rogers suspects gold will fall further

Author: Adam Button | Category: News

A commodity Jim Rogers don’t like at the moment is gold. In a short post on his blog, the commodity investing legend writes that 50% corrections in markets are normal and “I suspect we might have a 50 percent correction [in gold] before it`s over”.

It’s not clear exactly how he would measure a 50% correction but if go back to the dawn of the gold bull market in 2001, a 50% correction would hit around $1080.

“I am not buying at the moment. I think there will be a better chance to buy gold in the future,” Rogers wrote.

Gold is down $6 to $1283 today.

Gold monthly chart

Gold monthly chart

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