Jim Rogers told Bloomberg News earlier this week that he prefers oil over gold right now, because of the potential supply overhang of the IMF threat to sell it’s gold.
“The IMF is trying to sell its gold,” Rogers, chairman of Singapore-based Rogers Holdings, said in an interview with Bloomberg Television. “The IMF is one of the largest holders of gold so you’ve got this huge supply overhang.”
Further reading – more recent Jim Rogers coverage:
- Rogers believes the world is heading for a Depression
- Rogers still waiting to short US Treasuries