Veteran investor Jim Rogers shared that he gained significant insights into gold and silver from observing Indian markets. “I would visit Indian markets and see women adorned with extraordinary amounts of silver and gold. I learned a lot from those experiences,” the Singapore-based American millionaire mentioned to NDTV Profit.
At 81, Jim Rogers dismissed the idea that gold stored away is wasted capital. Instead, he emphasized the peace of mind and security that gold can provide during financial hardships.
“Interviewer Tamanna Inamdar made the following observation during Rogers’ remarks about gold and silver in India: “Jim, the way we look at it here, it’s a huge waste of capital to have large amounts of silver and gold locked away in your cupboards or hanging on your wrists instead of putting it to work.”
“I am aware of how the Indian government and you both see it. And a lot of governments think the same thing. However, you’re thrilled to have some gold in the closet when a situation comes up, Rogers said.
“You’re glad there’s silver beneath the bed,” he went on. “Hopefully, issues don’t come up. But since I’m an elderly peasant, we know that in times of need, it’s best to have some money and silver on hand.
Commenting on gold’s strong performance this year, Jim Rogers mentioned that he has been a long-time owner of both gold and silver. “I’m not purchasing more at the moment, but if I were, I’d choose silver,” he stated. “Silver is significantly down from its peak, so if I were to invest today, I’d go for silver,” he elaborated.
Jim Rogers, who serves as the chairman of Beeland Interests and co-founded the Quantum Fund with George Soros, has an estimated net worth of around $300 million.
In his interview with NDTV Profit, veteran investor Jim Rogers expressed regret over missing out on the Indian stock market rally. “I’m embarrassed because I’ve spent my life investing, and now that Delhi finally has the right attitude, I missed it,” he admitted.