ET Now: ...Many base metals are at multi-month lows. Do you see this to be the starting point of more downward pressure? Where do you see the next 3 months for these commodities and how volatile they can be?In other words, "watch it."
Jim Rogers: Again, I have absolutely no idea. 5% correction in gold is meaningless. These things correct 10-15-20-30% every year. Nothing unusual about that. That is the way the markets work. I do not see anything unusual. I expect there would be more correction during the course of the bull market. I hope that the bull market goes up, consolidates, goes up, consolidates, goes up and consolidates for years to come. That is my expectation for all commodities.
I can say that gold tends to be seasonally weak until mid- or late summer. Although there has been a fair relief rally in gold today, it's not very likely that the metal will make $1,600 before the fall. [To be scrupulous, I should add "if at all."]