Jim Rogers: after Brexit dollar better than gold

While analysts and traders from New York to London predict a further rise in gold, one of the veterans of the investment, Jim Rogers, states that, after the Brexit, prefers to focus on the dollar as a safe haven and not on the yellow metal.

Rogers, like George Soros, was among the founders of the Quantum Fund, the legendary US fund that in the 1970-1980 decade earned 4,200% while the S & P was only 47% advanced. It's also the father of the Rogers International Commodities Index (Rici) at the end of the nineties and works as guest professor teaches finance at Columbia Business School.

According to Rogers, interviewed today by Bloomberg, the price of bullion are destined to fall in the coming months and he will come back to buy gold at the end of the year. Second is a Bloomberg survey of 12 economists, the bullion value should still go up by 7% from current levels.

Since the beginning of the year gold has gained 25%, after the prices had sold in the previous three years. Hedge funds have in fact increased their bets on the yellow metal. And it is this enthusiasm that induces Rogers caution.

"Gold has been incredible this year in his rise, and I do not like to buy something that is sailing up. How safe haven prefer the dollar to gold," the entrepreneur born in Baltimore annoteted.