Jim Rogers' take on gold

"I would buy gold if prices fall to $1,100 or $1,200 an ounce. A pullback of this magnitude is normal." Gold is about to have its first down year in over a decade. At least that's what legendary investor and billionaire Jim Rogers suggests. Rogers is considered one of the best commodity investors in the world. He was buying gold before 1999 – when prices were below $300 an ounce. Today, gold prices are over $1,600 an ounce. As he told me this week, he thinks it's due for a break. So is he selling here? Before I get to his answer, let's take the "long view" on gold. As you can see from the chart below, gold prices have surged since 2002. In fact, gold prices are up for 11 straight years, outperforming the S&P 500 by nearly 500%. He was super-bullish on the yellow metal following the 2008-2009 credit crisis. That's when the Federal Reserve pushed short-term interest rates to zero – printing trillions of dollars to support the U.S. economy. And it was a fantastic entry point for new investors. But Rogers is not buying gold right now. That's what he said when I interviewed him on this week's edition of the S&A Investor Radio. Continue reading this article here.