Business Intelligence Middle East, 13 Apr 2009
INTERNATIONAL. Legendary global investor and chairman of Singapore-based Rogers Holdings, Jim Rogers said he prefers oil to gold as the IMF may sell gold to stimulate the world economy.
Speaking to Bloomberg TV, Rogers said: "The IMF is trying to sell its gold." "The IMF is one of the largest holders of gold so you’ve got this huge supply overhang. Whether they sell it or not, the world is expecting them to sell it."
G20 leaders agreed earlier this month that the International Monetary Fund (IMF) should sell gold from its reserve to help stimulate the world economy.
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