‘Indian women wear unbelievable’ amounts of gold and silver’: millionaire investor Jim Rogers

Veteran investor Jim Rogers says he learned a lot about gold and silver from Indian markets. “I would go to Indian markets and I would see Indian women… wives with unbelievable amounts of silver and gold. I learned, I learned,” the Singapore-based American millionaire told NDTV Profit.

Rogers, 81, was dismissive of the view that gold in lockers is wasted capital. Instead, he pointed to the mental peace and security that having gold can bring in times of financial difficulties.

During the course of Rogers’s comments on silver and gold in India, interviewer Tamanna Inamdar pointed out: “Jim, the way we look at it here, it’s a huge waste of capital to have large amounts of silver and gold locked away in your cupboards or hanging on your wrists, instead of putting it to work.”

“I know, I know how you and the Indian government view it. And many governments view it that way. But when a problem arises, you’re very happy you have some gold in the closet,” Rogers replied.

“You’re happy you have some silver under the bed,” he continued. “I hope problems never arise… but when problems arise - I’m an old peasant, and us old peasants know we better have some gold and silver when problems arise.”

You can watch the full interview here.

On the success of gold this year, Rogers said he owns gold and silver, and has owned them for many years. “I’m not buying now, but if I were, I’d be buying silver,” he said. “Silver is down a lot from its all-time high, so if I were buying today I would buy silver,” he explained.

Who is Jim Rogers?

Jim Rogers is the chairman of Beeland Interests and co-founder of the Quantum Fund along with George Soros. His net worth is estimated at around $300 million.

In his interview with NDTV Profit, the veteran investor admitted that he was “embarrassed” to have missed the Indian stocks rally.

“I'm embarrassed because I've invested in my life and here Delhi finally has the right attitude and I missed it,” he said.

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