From an interview on LewRockwell.com:
Jim Rogers: I don't ever like to buy something making all time highs however I'm not selling my gold. Gold is going to go much higher in the course of the bull market. Doesn't mean it can't go down 20 per cent next year but during the course of the bull market it is going to go much higher it is certainly not a bubble yet.
Interviewer: Jim you are typically a contrarian investor. If everyone is buying, shouldn't you be selling?
Jim Rogers: Yes, I should be selling at the top, but I don't think this is the top. Gold, if you adjust it for its old highs, adjust it for inflation back in 1980, gold should be over $2000 an ounce right now. In my view, in this bull market in commodities gold will make all new highs adjust for inflation.
Read full article...
More from Jim Rogers:
Jim Rogers on the best commodities to buy right now
Why Jim Rogers won't short the stock market right now
Jim Rogers: This will be one of the best investments of our time