NEW YORK (TheStreet) -- Jim Rogers , legendary contrarian investor, author and chairman of Rogers Holdings, is still betting on $2,000 gold in 10 years and in the meantime is looking to profit from China, the euro and other commodities.
Rogers' $2,000 gold target is nothing new but as gold prices have popped 11.8% year to date and the euro has fallen almost 14% against the U.S. dollar, a contrarian investor might sell gold and buy the euro. I spoke with Jim Rogers to see how he was positioning his portfolio.
What is your gold outlook?
Rogers: As far as I'm concerned, gold will go certainly much higher over the next decade or so. Governments all over the world are debasing money at a rapid rate and that has always led to higher prices for real assets throughout history and it will this time too.Do you have a price target? Rogers: I mean, I know the old high, adjusted for inflation, is over couple thousand dollars an ounce. I know it'll get there over the next decade. It depends on how much they debase the currencies. Rates are going to go much, much, much higher. I'm judging the world as it goes. I see that actions by governments all over the world are making it worse. So I presume that will continue and gold will go that much higher over the decade. Did you revise your price target or outlook for gold
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV