Gold, silver to hit new record highs, predicts veteran American investor
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American investment guru and financial commentator, Jim Rogers, has pointed to India as one of the hottest markets in the gold and silver industry with the precious metals expected to hit new records soon.
In recent times, India blue chip indices have surged over 50 percent as against their March lows, and midcap and smallcap indices have recorded a higher rally climbing up to 80 percent.
According to the Singapore based investor and co-founder of Quantum Fund and Soros Fund Management, the Central Bank of India’s economic support has led to a huge investment in the world’s second most populous country.
Rogers who is renowned for being extremely bullish on precious metals has stated that gold and silver should continue to rise as people will keep buying them, resulting in new record highs.
The septuagenarian investor, however, disclosed he failed to invest in India, a decision he regrets.
Speaking on the future of gold and silver in the market, Rogers is optimistic gold will continue to make new highs. He noted that though silver is down about 45 per cent from its all-time high, he expects silver to make an all-time high as well.
“I would expect both of them to continue to do well, because the world is going to have problems in the next few years,” he asserted.
This year, gold and silver have outperformed most other asset classes. Year to date, silver is up 50 per cent and gold 28 per cent.