'Gold in Lockers Not Wasted Capital': Jim Rogers says he learned a lot about gold & silver from Indian women

Veteran investor Jim Rogers has praised the insights he gained about gold and silver from the Indian market. In an interview with NDTV Profit, the American millionaire based in Singapore noted how observing Indian women’s strong preference for these metals shaped his perspective. "I would visit Indian markets and notice Indian women with significant amounts of silver and gold. They've taught me a great deal about these metals," Rogers, 81, said.

Gold Storage: Not Wasted Capital

Rogers addressed the common belief that storing gold in lockers is a waste of capital. He countered this view, emphasizing the value of having gold for peace of mind and security in financial crises. Interviewer Tamanna Inamdar remarked, “Jim, many see large quantities of silver and gold stored away as a waste of capital, rather than putting it to productive use.”

In response, Rogers stated, “I understand how you and the Indian government view it, as many governments do. However, when a crisis hits, you'll be glad to have gold and silver stashed away. I hope crises never happen, but as an old peasant, I know it's wise to have some gold and silver ready.”

Silver: A Smart Investment Now

Rogers also shared his thoughts on the current performance of gold and his investment strategy. Although he has long held gold and silver, he is not currently purchasing more. However, he sees silver as a promising investment, considering it undervalued. “I’m not buying now, but if I were, I’d choose silver. It’s significantly down from its peak, so if I were investing today, I would focus on silver,” he noted.

Regret Over Missing Indian Stock Rally

Towards the end of the interview, Rogers expressed regret over missing out on the recent surge in Indian stocks. “I’m embarrassed because, after investing throughout my life, I missed the opportunity in Delhi’s current favorable market conditions,” he admitted.

Jim Rogers, chairman of Beeland Interests and co-founder of the Quantum Fund with George Soros, has an estimated net worth of around $300 million.