Jim Rogers Prefers Silver over Gold This Year

With large funds, central banks and the IMF looking to sell gold to raise cash, along with the way silver has plunged, Jim Rogers says he thinks if he was forced to choose between the two, silver will probably outperform gold this year.

“Silver will do better than gold,” Rogers, chairman of Singapore-based Rogers Holdings, said on Monday in an interview. “It’s been beaten down horribly. If you put a gun to my head and said you have to buy one, I would buy silver rather than gold.”

Assuming member countries of the IMF will vote to sell the 403.3 metric tons of gold they agreed upon in May, that could definitely drive the price of gold down even further, which would be a good time to get back into it.

Even though Rogers thinks silver will be better than gold, he added he will get back into gold if downward pressure on price continues.