Silver and gold - you know, gold has gone up ten years in a row. That’s extremely unusual in any financial asset. Silver skyrocketed here in the last several months. So yeah, it’s a combination of things - financial panic, market re-quals, etcetera. But I don’t see this as any problem.
It’s good for markets. Back in the 1970s gold went up 600 percent and then gold went down 50 percent, scared everybody off. A lot of people gave up on gold. And then as soon as they gave up and sold, gold turned around and went up 850 percent. That’s not a typo - 850 percent.
So this is nothing unusual. Oil has gone down almost 50% three times since the bull market started in 1999. I don’t pay too much attention to these things. I try to be smart enough to buy when it collapses some.
Tickers: IShares Silver ETF (SLV), SPDR Gold ETF (GLD)
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.