Last week we reported that the mainstream is turning bullish on gold, and in recent months, a number of prominent investors including Paul Tudor Jones, Thomas Kaplan and David Roche have all talked up the yellow metal. This week, we have another well-known veteran investor saying buy gold.
During an interview with Bloomberg, Mark Mobius said that at this point investors should buy gold “at any level.”
I think gold long-term prospect is up, up, and up.”
Last week, Independent Strategy head David Roche said gold could hit $2,000 by the end of the year. And Rosche isn’t the only big name in the investment world who sees a shiny future for the yellow metal. Mark Mobius recently said he thinks gold could push above $1,500 as central banks move interest rates lower, engage in more QE, and as geopolitical uncertainty continues to ramp up.
“I love gold,” Mobius said.
He also offered a bit of investment advice, saying gold should make up at least 10% of every investment portfolio — something Peter Schiff has been advising for a long time.
Bitcoin has significant upside. BTC and precious metals both offer alternatives to government monopolized fiat currency. They play a similar role as free market, sound money. But as with any financial instrument, there are potential pitfalls. Diversifying your cryptocurrency portfolio with precious metals can help mitigate some of the potential downside and put you on in an overall stronger financial positiong.
Bloomberg reports emerging markets fund manager Mark Mobius warned that governments will begin clamping down on digital currencies because of their use in illicit financing, terrorism, and drug trafficking. He said that’s going to mean a rush back to gold.
Cryptocurrencies are beginning to get out of control and it’s going to attract the attention of governments around the world. You’re going to get a reversion back to gold because people are going to wonder, can I really trust these currencies?”