I know there are a lot of people who think it’s holy or mystical, but my reading is that everything is a commodity, ultimately, whether it’s IBM computers or Ford motor cars.
So, I consider gold a material, a substance, a commodity, a natural resource, a raw material — call it what you will. And it is affected by supply and demand, as it has been for several thousand years.
The mystics don’t like that, but unfortunately, I’m not a mystic. There have been many times when gold has been a terrible investment, no matter what’s been going on in the rest of the world.
Related Tickers: SPDR Gold ETF (GLD), New Gold (NGD), Novagold (NG), Seabridge Gold, Inc. (USA) (AMEX:SA), Seabridge Gold Inc (TSE:SEA), Rubicon Minerals Corp. (TSE:RMX), Goldcorp Inc. (TSE:G), Kinross Gold Corporation (TSE:K), Yamana Gold Inc. (TSE:YRI), Yamana Gold Inc. (USA) (NYSE:AUY), Newmont Mining (NEM), Barrick Gold (ABX), Anglo Gold (AU), Goldcorp (GG)
Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.
