Jim Rogers: Silver Rally Was a 'Gigantic Crazy Spike,' Didn't Quite Reach Parabolic Status
[Sorry I didn't find this sooner as it's an article from May 11, but still interesting if you like PMs, particularly silver.]
Legendary global investor and chairman of Singapore-based Rogers Holdings, Jim Rogers hardly sees how silver could be a bubble when, even at its top, it's still below its all-time high.
Speaking to Alix Steel in a TheStreet interview, Rogers said: "When something goes up 25%-30% in a month, that's something to worry about a great deal. I don't know what caused it maybe it was short covering, maybe it was rumors. I have no idea. I know that 25% in a month is dangerous".
Asked if this was a bubble that burst, Rogers said: "I hardly see how silver could be a bubble when, even at its top, it's still below its all-time high. That's not much of a bubble," adding a bubble is "when things are screaming up every day and they go to new highs, two to three times their old highs".
"We'll have a bubble, we'll have a bubble in commodities, we're not there yet," he said.