Jim Rogers picks US$ over gold as investment haven

Singapore

WHILE analysts and traders from New York to London bet that gold will go higher, veteran investor Jim Rogers would rather seek haven in the US dollar as the UK's vote to leave the European Union (UK) roils global markets.

Prices of bullion are due for a drop and will probably be lower at the end of the year versus current levels, Mr Rogers said on Monday, adding that he would buy the metal again once it declines enough. That view is at odds with the median of 12 forecasts in a Bloomberg survey that predicts a gain of more than 7 per cent for gold from where it's trading now.