Gold @ $900?
source: http://transcripts.businessday.co.za/cgi-bin/transcripts/t-showtranscript.pl?...
clipped by chao Dec 13, 2005
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JIM ROGERS: Gold is certainly going to participate, but I think you’re going to make more money in other commodities - you will make more money in sugar or coffee than you will in gold, but I own some gold and some silver - we’re certainly going to make money in all of these things. In previous bull markets of any asset class - everything makes a new all-time high. That means gold has to go to at least $900, and silver has to go much higher if history is any guide to how bull markets have always worked…
LINDSAY WILLIAMS: I remember you speaking to us last time - I think it was maybe it was about nine months ago - you said perhaps the oil price had run a little bit too far, and you proved correct. It did go to $70 a barrel, but it’s back now at around about $60 - is there going to be a second or third wave on this particular commodity?
JIM ROGERS: Sure, oil will be well over $100 before it’s over - if history is any guide this bull market is going to last until around 2018, sometime between 2014 and 2022, and everything is going to go much higher. There has been no major oil discovery anywhere in the world in over 35 years - every oil field you know about is in decline. Somebody has to do something…