- Spring Home Buying Season: Good, But Not Good Enough?
- Where’s the French?
- Do the Europeans Really Want a Deal With Greece?
- Draghi’s Kiss: Putting a Bow On the Greek Bailout
- Brinksmanship: Is the EU Negotiating With the Wrong Parties?
- An Escrow Deal for Greece, or Just a Private Sector Deal?
- Housing Stocks Hit New Highs—Too Much Optimism?
- Still No Certainty on Greece, but the Chinese Help
- Greek Debt Drama: Current Act Is Ending
- More Greek Deadlines Today and Tomorrow
- More Asset-Buying Depends on Economy: BOE
- Stocks Sputter as Investors Seek Next Catalyst
- Winners and Losers in Obama's Corporate Tax Plan
- Santorum Takes Heavy Fire in Arizona Republican Debate
- Volcker Rule Threatens Recovery: Finance Ministers
- Next Bank of England Governor: The Race is On
- Peugeot Citroen in Talks With General Motors
- HP, Dell Watch Rising China Labor Costs for Apple
- China Internet Firm Qihoo Says Citron Allegations False
MOST SHARED
- More Asset-Buying Depends on Economy: Bank of England
- RBS to Pay Out $627 Million in Bonuses Despite Loss
- Japan Manufacturing Mood Dips to Levels After Quake
- Household Debt, Not Politics, Worry for Australia: Economist
- Japan's Sumo Belly Flops to $50 Million Debt
- 7 Undervalued IPO Stocks That Could Rebound in 2012
- Credit Agricole Posts $4.1 Billion Fourth Quarter Loss
- Break-Up, Greece Cause Huge 2011 Dexia Loss
- What if Mitt Romney Had Been President in 2009?
- The Rise and Fall of a Multibillion-Dollar Ponzi Scheme
MOST POPULAR
HOT ON FACEBOOK
Commodities Rally Still Strong, Gold Will Hit $2,000: Rogers
Text Size 
CNBC.com Senior Writer
The huge rally in gold is expected to continue—with $2,000 an ounce well within sight over the next decade, well-known commodities investor Jim Rogers told CNBC.
 |
Boris Engelberg | Stock4B | Getty Images |
Gold [US@GC.1
Loading...
()
] will be among the premier plays in commodities, which stand to benefit whether the economy rebounds or not, said Rogers, creator of the Rogers International Commodity Index.
"Gold is going to go a lot higher over the next decade. It may slow down for a while because it's run up so dramatically here in the last few weeks. But gold's going to be much higher," Rogers said. "Adjusted for inflation it should be well over $2,000 now. When I say something like it's going to 2,000 in 10 years it's not a very dramatic statement given the state of the world. I'm sure it's a given."
Rogers said one reason gold will continue to gain is because of what he called the failed policies of the Federal Reserve, its Chairman Ben Bernanke, as well as Treasury Secretary Geithner and other government officials. He said their efforts to prop up the economy have made things worse, not better.
"They've all been dead wrong, totally unadulterated wrong," he said. "Unemployment is higher now than it was before. Everything is worse instead of better. Let people go bankrupt. Let the system clean out and start over."
Either way, he said, investors are better off in commodities than stocks and bonds.
"If the world economy gets better I'm going to make money in commodities," Rogers said. "If the world's economy doesn't get better I'm going to make money in commodities, because (the Fed is) going to print money."
He also said silver may even be a better buy now than gold because it is well off its historical high, while gold has been setting a series of new peaks lately. Rice will do well among soft commodities, he predicted.
"Look at the things that are cheap. Gold is making all-time highs, silver is still 60 percent below it's all-time highs," he said. "So if I was looking at a precious metal, I would look at the places that are still cheap."
Data is a real-time snapshot *Data is delayed at least 15 minutes
