Will not sell any commodity, despite fall: Jim Rogers - Metals News - Metals Place: "Commodities have been extremely volatile over the past one-week. Copper, aluminium, and zinc have all cracked under heavy speculative trading. On Wednesday, prices rebounded sharply, but only for a while, before slipping once again. Investment Guru, Jim Rogers says that all markets have big reactions and consolidations and it may be so with commodities as well.
But he further adds that he will not sell any commodities even if they correct 30-40%. Rogers says that copper and zinc were overdue for correction.
In his opinion, commodities may have peaked for the moment but will not stay that way for a decade. China is the only emerging market that Rogers is invested in.
He is bearish on the US dollar and hence advises people to sell the dollar.
Excerpts from CNBC-TV18's exclusive interview with Jim Rogers:
Q: Was the crack we saw in commodities only a technical crack or is it the beginning of a downturn?
A: All markets have reactions and consolidations even within the context of the bull market. In the 1970s, gold went up 600% and then it went down 50% over a two-year period only to turn around and go up another 800%. So there may be big reactions and we may be overdue for one. Although I don't have a clue, I am not selling any commodities, even if they go down 30-40% because they will be going back up later.
Q: Will all commodities go back up because some people are saying that industrial base metals may not reach the tops again?
A: I can see that copper and zinc and few things have gone straight up for a few months and they are certainly overdue for a correction. But one has to know that nobody has opened any mines in years and all the existing mines are depleted.
In Asia, India and China are growing. Some of these people may have"
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