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Gold Price "Will Breach $2000" says Jim Rogers

The Gold Price will breach $2000 an ounce and could go much higher, according to legendary investor Jim Rogers.

Rogers, who co-founded the Quantum Fund with George Soros in 1970, believes the Dollar Gold Price will rise in response to the US Federal Reserve’s stimulus policies.

"Eventually gold will be a couple of thousand Dollars an ounce, and probably much higher, as currencies become more debased," he said.

Rogers said he hopes those holding Dollars will seek to protect themselves against a fall in the currency’s value.

"Most people have insurance policies, like fire insurance, car insurance, health insurance and you hope you never have to use them. But I would hope that everybody takes out some kind of insurance policy for their money," he said.

Minutes released Tuesday from the 15 March Federal Open Markets Committee, which sets US interest rates, suggest that stimulus measures may continue, noting that "exceptional policy accommodation could be appropriate beyond 2011".

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