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Jim Rogers Picks Dollar Over Gold as Haven in Brexit Tumult

  • Investor sees bullion dropping from current levels by end-2016
  • Not planning to sell gold; may take short position as hedge
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Does the Rally in Gold Have Further to Run?

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While analysts and traders from New York to London bet that gold will go higher, veteran investor Jim Rogers would rather seek haven in the dollar as the U.K.’s vote to leave the European Union roils global markets.

Prices of bullion are due for a drop and will probably be lower at the end of the year versus current levels, Rogers said in a phone interview on Monday, adding that he would buy the metal again once it declines enough. That view is at odds with the median of 12 forecasts in a Bloomberg survey that predicts a gain of more than 7 percent for gold from where it’s trading now.