LONDON (Commodity Online): Global commodities investment guru Jim Rogers says he is very bullish on commodities, especially in all the agricultural commodities, crude oil and precious metals like gold and silver.
In an interview to Bloomberg, Rogers, who is a bull in commodities market, said that crude oil prices will continue to rise for the simple reason that the world is running out of all the known reserves of oil.
“Saudi Arabia has been lying about their (oil) reserves for decades,” said Rogers. “The reason oil is going up is the world is running out of known reserves of oil,” he pointed out.
Rogers, who set up the Rogers International Commodity Index, said that gold price will shoot up to $2000 per ounce and silver price will hit $50 as the global investment demand and consumption of these two precious metals are just going up.
“Gold will go to $2000 in this decade. It’s pretty simple as far as I’m concerned. Silver will certainly go over $50. The old high on silver was $50. Silver will go to new highs again. All these prices are going to go to absurd levels by the end of the decade, by the end of the bull market,” Rogers who is famous for his books like A Bull in China and Hot Commodities said.
Read more: CommodityOnline.com
