The chairman of Rogers Holdings has claimed today (December 5th) that investing in gold is still a sound strategy as it is in the midst of a concerted bull run, Bloomberg reports.
Gold prices today posted their first weekly loss in five and there are worries among some market commentators that the prospect of deflation will push them lower.
However, Jim Rogers told the news provider that the fundamentals of commodities are "unimpaired" and that prices will recover strongly when supply shortages are incorporated.
He said: "I own some gold and if gold goes down I'll buy some more and if gold goes up I'll buy some more.
"Gold during the course of the bull market, which has several more years to go, will go much higher."
Mr. Rogers' comments were echoed recently by Nicholas Brooks, head of strategy at exchange-traded commodity specialist ETF Securities, who explained that the current market uncertainties are leading investors to gold.
"Investors have been in pure panic," he said. "They think the world is ending. When people get into that sort of mentality, one of the first places they go to is gold."
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