Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Mobius: Buy Gold at Any Level!

  by    0   0

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.”

Why is Mobius bullish on gold? As he put it, central banks are going to be printing lots of money in the near future.

The reason why I say that is the money supply is up, up, and up. You know, with the efforts by these central banks to lower interest rates they’re going to be printing like crazy.”

The Federal Reserve cut rates for the first time in over a decade last month. Powell tried to downplay the move, insisting it wasn’t the beginning of a long rate-cutting cycle. Peter Schiff said that’s true – only because it won’t take long to get to zero.

[Jerome Powell] is trying to pretend it’s because of concerns about the overseas economy. It is really the US economy that is driving the Fed. That’s why this is just the first step on the road back to zero. And you know, it was a mistake when the Fed went back to zero the last time; it’s going to be an even bigger mistake when they do it next time. And they’re also going to go back to quantitative easing. You know, they announced yesterday the end of quantitative tightening, but the next step is to go back to QE, and QE 4 is going to be bigger than QE 1, 2 and 3 combined.”

The Fed isn’t alone on the path toward more monetary stimulus. In an interview with the Wall Street Journal, Finnish central bank governor Olli Rehn raised the prospect of new easing measures from the European Central Bank. He said, “It’s important that we come up with a significant and impactful policy package in September. When you’re working with financial markets, it’s often better to overshoot than undershoot, and better to have a very strong package of policy measures than to tinker.”

During the Bloomberg interview, Mobius also addressed the proliferation of cryptocurrencies. He said he believes the rise of bitcoin and other cryptos will actually be good for gold.

You have all these currencies, new currencies coming into play. I call them ‘psycho currencies,’ because it’s a matter of faith whether you believe in Bitcoin or any of the other cyber-currencies. I think with the rise of that, there’s going to be a demand for real, hard assets, and that includes gold because gold can play a role not only as an asset but also as a currency.”

Mobius said investors should have at least 10% of their portfolio in gold. “I’m talking about physical gold,” he said.

Peter Schiff has been advising this for a long time. Currently, only about 1% of the world’s investable capital is in gold.  Peter has said it would be wise to make the move sooner rather than later.

If the idea goes mainstream, and all investors go to a 10% gold allocation, the price will skyrocket.  Investors need to move quickly to get ahead of the crowd.”

Download SchiffGold's Gold vs GLD EFT's Guide Today

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

Peter Schiff: Gold is the Canary in the Economic Coal Mine

This weekend, Todd Sachs interviewed Peter on the state of the economy. They discuss the parallels between now and the 2007-2008 housing crisis, the role of economic sentiment in voters’ opinions, and why foreign central banks are losing faith in the dollar.

READ MORE →

Gold Hits New All-Time Record High

Gold hit a new all-time nominal high, surpassing the previous record set in December of the previous year. The precious metal’s price reached approximately $2,140, indicating a robust and continuing interest in gold as a safe-haven asset, despite a rather peculiar lack of fanfare from the media and retail investors. This latest peak in gold […]

READ MORE →

New Peter Schiff Video: Inflation Rises, Bitcoin ETFs, and the Final Gold Shakeout

Peter released a brief video addressing the looming resurgence of inflation. Ironically, on the back of disappointing inflation numbers, gold witnessed a dip below $2000 on Tuesday due to higher-than-expected CPI data.

READ MORE →

Peter Schiff: A Buying Opportunity as Gold Pulls Back from Record High (Video)

Gold surged to a new record high of $2135 early Sunday morning before pulling back sharply Monday. In this video, Peter Schiff explains why this is a buying opportunity. After setting the record, gold quickly sold off and consolidated, dropping over $100 back to around $2,020. Some people see the quick selloff as a bearish […]

READ MORE →

Marc Faber: Inflation Is Here to Stay

During a recent interview at the 2023 Precious Metals Summit Zurich event, Doom, Boom & Gloom Report publisher Marc Faber says now is the time to buy gold, silver and platinum because inflation is here to stay.

READ MORE →

Comments are closed.

Call Now