Jim Rogers On India-US Trade Deal, Indian Markets & Gold-Silver Outlook | Business News | ET Now

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01. the author of Street Smarts, Adventures on the Road, and in the Markets. Jim, thank you so much for taking your time out and joining us here on ET Now. And let me start by asking about the India-US trade deal announcement that came in overnight before we talk about precious metals. What do you make of this?

02. Indian equities are in the best of health today with Nifty up nearly 3% as we speak. Look at the kind of moves that we are seeing. Your thoughts on the trade deal and its impact on Indian economy. Well, India is making dramatic positive changes from what I read. So, I am more enthusiastic about India than I have ever been in my life.

03. I've always been enthusiastic about the country, but the politicians were never very smart. It seems now Indian politicians know what they're doing. It's good for India. It's good for the world. Right. So, the trade deal is good for India and good for the world. But, Jim, how do you assess the overall economic significance of this India-US trade deal for India's medium-term growth trajectory?

04. And any sectors that you are in particular keeping your eye out on within Indian equities? Well, the Indian market made all-time highs recently. So, I do not own shares in India, but it is certainly a place that if things go down, if things get cheap, I hope I am smart enough to buy shares in India again.

05. It can be very exciting. Okay. So, if things go down, you could probably buy Indian equities. But, how soon could that be? When would you probably think that it is the right time to enter into Indian equities yet again? Well, it depends on if they go down. I don't like to buy I like to buy low and sell high.

06. I like to buy when things are depressed. Things are not depressed in India right now. If you can tell me when they will be depressed, I will tell you when I will buy. Okay, so at some point in time in the future probably you could buy into Indian equities again now that the outlook is more bullish than it was earlier.

07. But apart from the India-US trade deal, let's also talk about the volatility in precious metals that we have seen over the last few days. What do you make of this? And would you advise staying away from precious metals given this elevated volatility? Oh, well, I'm sorry. I don't pay too much attention to short-term moves in any market.

08. I try to be a long-term investor. I try and invest in places when things are depressed and down and then I try to hold on for many years. So, I have not been paying much attention recently, I'm afraid. You can tell me what should I do? Should I be buying today? So, Jim, if I want to buy either of these precious metals as an investor, you're saying this is not the right time to buy and perhaps we should wait a little longer to venture into precious metals.

09. Am I getting you right? Well, if if when things are depressed again, I hope I'm smart enough to do some research and buy. But things are not depressed in India right now. Right. Last week, Jim, after US President Donald Trump announced next US Fed Chair Kevin Warsh, precious metals have corrected from their recent highs.

10. Do you think this was just a trigger for a larger correction that was overdue given how fast precious metals had run up in just a short period of time. What's your thought on the recent correction that we are seeing in the precious metals basket? Well, I own gold and silver. I am not buying gold and silver now because they've both been going straight up, but I hope I'm not selling.

11. I'm not selling gold and silver. If they go down, I hope I'm smart enough to buy more. Everybody should own some gold and silver. That's one of the things I learned in India long ago. And Jim, if you had to choose one precious metal from the two, either gold or silver, which one will that be and why?

12. Well, I guess I guess it would be gold right now because gold is a little cheaper. You know, silver went up a lot recently, so I guess it would be gold today. I'm not buying either, but if one goes down, I hope I buy more. But it depends on what how what goes down. I will buy something if it goes down.

13. Okay, so you will buy either gold or silver as and when it goes down, but you're bullish on gold more as compared to silver. But what according to you, Jim, will drive gold and silver higher from current levels? Which will that one trigger be which will perhaps aid the precious metals market even from the current elevated levels?

14. Well, gold and silver are both going to go higher over the next few years because the world is the world is running up huge debt and printing lots of money. So, the outlook for gold and silver continues to get better and better. Governments print money, governments borrow money, and governments spend money.

15. So, please do not sell your gold and silver. I hope I'm smart enough to buy more if they go down. The world is going to have gigantic needs for gold and silver in the next couple of decades. The world is getting in much worse shape. Okay, so world is going to need massive amounts of gold and silver.

16. That's the word coming in. Jim, thank you so much for taking your time out and joining us here on ET now on such an important day for us at a day at a time when India-US trade deal has now been finally signed. But, with that we need to slip into a very short break. More news and updates will continue on the other side.