Salient to Investors:
Jim Rogers writes:
- The primary reason for the correction in gold prices, other than it needed to, was because Indian politicians suddenly and outrageously blamed their problems on gold.
- India is the largest importer of gold, so whenever the largest buyer of any commodity cuts back, there will be a correction, which could continue for a year or two. A 50% correction is common for commodities, implying gold at $900-1,000.
Read the full article at http://blogjimrogers.blogspot.com/2013/09/india-scapegoates-gold.html
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