Investor Rogers Says Gold Needs Correction, Isn’t Buying Yet
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Gold, which tumbled into a bear market last week, is in need of a correction, according to investor Jim Rogers, who said that he’s not buying the commodity yet as it hasn’t dropped enough.
“This may be the correction that gold needs,” said Rogers, chairman of Rogers Holdings, while reiterating a forecast that bullion will go higher over the next decade. “If it goes down enough, I will start buying it,” Rogers told reporters in Singapore today, without identifying a level.