Jim rogers - Gold may fall another 30pct

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As usual, a video without any explanation.

Gold, for multiple reasons, is not likely to drop below $1100 (my numbers) or $1075 (Tom Fitzpatrick's numbers) for long, if at all, though there might possibly be a panic spike near the bottom. The duration of such a spike could very well be measured in MINUTES, or at most hours.
 
or it could spike down to near zero as paper gold is dumped wholesale ...

bring it on eh ?
 
If such a thing happens, I have my truck backed up and already in reverse, just waiting....
 
Jim Rogers is always couching his comments with caveats. He is not in the crystal ball business. He expects gold to gold up but knows it could trade down or sideways in the near term. Based upon what I'm seeing with the lease rates and COMEX inventories, I'm thinking (* I'm not in the crystal ball business either) we aren't going to see any real significant discount from current prices.
 
He's too rich to ignore but I question his choice of suspenders.
 
Might be true. Jim Rogers had right about many things. I just wonder how high gold will spike after this drop is over...

Of course, when you're rich: you can buy a lot of gold "just for fun" and you're not threatened by anything. If someone spends 10 % of their savings, then that's a huge risk!

Poor people who bought 1-2 ounces for higher prices must feel devastated now. This crash is like a cold shower on their heads.
 
Potemkin said:
Might be true. Jim Rogers had right about many things. I just wonder how high gold will spike after this drop is over...

Of course, when you're rich: you can buy a lot of gold "just for fun" and you're not threatened by anything. If someone spends 10 % of their savings, then that's a huge risk!

Poor people who bought 1-2 ounces for higher prices must feel devastated now. This crash is like a cold shower on their heads.
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The public has next to zero exposure to gold and silver. Most people don't even know how to buy it.

Instead, the "poor" bought houses in 2006, lost everything in 2008 and have been on food stamps. None of them were buying gold. If they had, they would have still doubled their money even after the "crash".

Also.. 10% portfolio allocation is pretty low IMO. You are mistaking volatility for risk. Having a trading account with a brokerage firm or money in the bank is higher risk than holding physical gold. Having a LEVERAGED asset like a home that the state leases to you is higher risk than holding gold.

The simple fact we have another bear trolling PM bug makes me think this correction has run it's course.
 
DSAbug said:
The simple fact we have another bear trolling PM bug makes me think this correction has run it's course.
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The simple fact is that contrarians tend to make more money than those that FOLLOW the crowd. And since, as you pointed out, the bears are piling up which is a leading indicator of a bullish market.

I am with you here. I think the current bottom is in or nearly in. Going lower will take too large of a miracle at this point in time. And like I stated above, there is no more reason for gold to go lower, and lots of reasons for it to go up, both from a fundamental point of view and from a technical point of view.
 
There is another video in which he talked about gold dropping in 2014 and 2015 until it will eventually reach a bottom:
 
He doesn't know and doesn't claim to know. he just expects it to be a complex bottoming process.
 
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