Investor Jim Rogers, said he remains bullish on gold and silver in the long term.
In the short term he is not so optimistic about gold and silver prices.
“I expect the price to decline and when that happens I will buy more,” Rogers said at a conference in Bucharest.
He recently said that he would buy gold at $1,600/oz and would increase position by even more at $1,500/oz – reiterating that gold is going much higher in the coming decade.
He said in November 2011 that gold “will easily go to $2,000 but it will reach $2,400 over the course of the bull run, which has years to run.”