Commodities to return: Rogers

The global commodities market is about to make a comeback after years of price declines, which have devastated the food and metal markets around the world, according to billionaire American investor Jim Rogers.

Rogers, in an e-mail interview with the JoongAng Ilbo from Singapore, where he has recently moved to teach his children Chinese, stressed now is time for investors to return to commodities, and warned them to stay away from U.S. currency.

…Q. Oil prices, which sunk from $147 a barrel to some $30 a barrel last year, have rebounded to the $50 mark this year. Do you think this recovery is stable?

A. The surprise for many will be how high the price of oil stays and how high it goes, since the world is running out of known oil reserves.

The International Energy Agency