Wall Street King and Commodity Legend Jim Rogers Jim Rogers, chairman of Rogers Holdings, said he is concerned some institutional gold reserves may be sold , namely the IMF gold stocks...
“I own some gold, but I am not buying at the moment because the IMF, which is one of the largest owners of gold in the world, is desperate to sell its gold,” Rogers said in an interview with Bloomberg radio this morning “I’m not selling my gold.”
The IMF “is trying to get permission from everybody,” Rogers said. “If and when they sell their gold, they may set a bottom. Who knows? It may go down to $700. They got a lot of gold to sell. If it does, I hope I’m brave enough and smart enough to buy more.”