Global investment guru Jim Rogers has issued a compelling call to action: invest in precious metals. His advice comes as gold and silver prices continue their upward trajectory, fueled by ongoing geopolitical uncertainty. But Rogers’s endorsement isn’t just based on market trends; it’s rooted in a profound respect for the financial savvy he’s witnessed firsthand.
Speaking to IANS on Thursday, Rogers, known for his insightful market analysis, shared his personal investment strategy: “Everybody should own gold and silver.” This conviction, he explains, stems from his experiences in India, where he learned invaluable lessons from women actively engaged in gold and silver markets. He stated, “That is one thing I learned in India where women in the markets taught me a lot about gold and silver.” His current preference leans towards silver, due to its comparatively lower price point: “If I were buying one today, I would buy silver because it’s cheaper. I hope I’m smart enough to buy more of both if they go down in price.”
This advice is particularly relevant in light of recent data from the World Gold Council (WGC). Their report reveals a significant surge in India’s gold demand during the September quarter – an 18% year-on-year increase, reaching 248.3 tonnes. This remarkable rise is attributed to a combination of factors: increased consumption of gold jewelry and a parallel upswing in gold investment. The value of India’s gold demand during this period soared even more dramatically, exhibiting a 52% year-on-year increase to a staggering Rs 1.65 lakh crore (approximately $20 billion USD), compared to Rs 1.08 lakh crore in the same period last year. Specifically, the demand for gold jewelry in India saw a 10% year-on-year rise, reaching 171.6 tonnes, fueled by the wedding and festive seasons.
Beyond precious metals, Rogers also shared his perspective on mutual funds (MFs). He believes that informed investors can greatly benefit from MFs as a tool for wealth building. However, he emphasizes the critical importance of thorough due diligence: “If people know what they’re doing, everybody should invest in MFs because it’s a way to have better prosperity. But do not invest unless you know what you’re doing yourself. Don’t listen to other people. Only invest in what you know a lot about. But if you know a lot about something, you should find investments and have success.” He also reflected on his past investment decisions, admitting, “I sold my investments in India too soon. I will invest more in India as the country has a brighter future.” This statement underscores his optimistic outlook on India’s economic potential.
The confluence of rising gold prices, increased Indian gold demand, and the endorsement of a seasoned investor like Jim Rogers paints a compelling picture for those considering precious metal investments. Rogers’s emphasis on learning from the expertise of Indian women in the gold market adds a unique and fascinating layer to this financial narrative. The current market conditions, coupled with his insights, suggest that now might be a prudent time to reassess one’s investment portfolio and consider the potential benefits of diversifying with precious metals.
