As the US Federal Reserve prepares to raise its interest rate, oil and gold futures are expected to continue falling, according to US investor Jim Rogers, author of "Street Smarts – Adventures on the Road and in the Markets."
According to Rogers, the result of the rate hike may be temporary, as it is not expected to boost the US economy, while making the US dollar overvalued. The result may be competing currencies, if the dollar is unable to hold up, Rogers told Sputnik.
"It's already had an impact on commodity markets, we've all known that interest rates would be going higher. Commodities are down very dramatically in some cases over the last three or four years, so the first or second interest rate rise could probably make the bottom of commodity markets," Rogers said.
According to Rogers, the interest rate rise would not be exceptionally noticeable for the US economy because it is relatively insignificant. As a result, the overpricing of the dollar could put an end an end to the dollar era, according to the investor.