Jim Rogers: Gold Will Go Higher

In an interview with Bloomberg television, Jim Rogers stated that he believes commodities will continue their bull run in the coming years. Specifically, he stated that he expects gold to climb higher. Rogers hinted that institutional demand for gold is still weak, which could change in the coming years.

Rogers: “I spoke in Prague recently and we did a survey of the room and there were 300 major money managers from all over the world [and] 76% of them had never owned gold. Can you imagine that?”

Although we are short-term bearish on gold, due to the stagnant growth 0f money supply measure M2, we remain long-term bullish.