Buying Gold not a Smart Investment Now: Says Jim Rogers

A Reuters report says that Jim Rogers does not recommend buying gold on a day when it set a second record high. It is not good policy, he says, to buy a commodity at record prices, even though he says that he is confident gold will double its price in the next few years.

Whats a good investment then, according to Rogers? Agriculture, he says. A looming food crisis transcends the desire for gold, and if you go by Jim's advice, "instead of getting an MBA, get yourself a farming degree. You'll make a lot more money."

Spot gold prices rose to a record of above $1,040 an ounce on Tuesday, as investors moved to preserve their dollar assets against a weak currency and fear of inflation.