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By Jared Cummans

Gold has been a major talking point in the commodity world for the last few weeks. Although it seems as if the metal has been grabbing headlines for the better part of a year, the anticipation of the fiscal cliff and the future of the U.S. dollar have gold investors on the edge of their seats. Famed investor Jim Rogers recently chimed in with his views on the precious metal, as he has been an owner for quite some time, but investors may not like what he has to say.

After reiterating the shocking trend of gold turning in 12 straight winning years, Rogers pointed out that he feels the asset is the subject of too much trader speculation for the time being. "If you look at the open interest from the CFTC, the speculators have been piling into gold. The number of call options is more than twice the put options. All the signs are that there's too much speculation in gold right now," said Rogers. He went on to state that he is a gold owner, but for the time being he is not buying. Should the asset fall, Rogers has stated that he will add to his position.

The heavy speculation should come as no surprise, especially given gold's recent volatility. With each day bringing news from the eurozone and fiscal cliff talks, the yellow metal has been lucky to hold its ground. It seems as if the end of the year is the next big hump for gold to get over before it can pick a definitive direction, as the uncertainty surrounding the fiscal cliff has analysts all over the board when it comes to gold’s future.

While Rogers may not be buying the metal right now, there are certainly a number of other investors who have decided to move into gold. Since the beginning of November, the SPDR Gold Trust (NYSEARCA:GLD) has seen more than $700 million in inflows. As a whole, gold ETFs are at an all-time high with over $150 billion in total holdings, according to Nick Brooks, head of investment strategies and research at ETF Securities. The next few weeks will be key for this asset, and there is no doubt that Jim Rogers -- along with the rest of the investing world -- will keep gold under the microscope for the foreseeable future.

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Disclosure: No positions at time of writing.

Disclaimer: Commodity HQ is not an investment advisor, and any content published by Commodity HQ does not constitute individual investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities or investment assets. Read the full disclaimer here.

Source: Jim Rogers: There's Too Much Speculation In Gold