The famous American investor and analyst Mark Mobius recommends buying gold in an interview with Bloomberg. He believes that the price of gold will continue to rise, as the volume of paper money in the global economy will constantly increase.

Over the past few months, the price of gold has shown significant growth, but many investors did not have time to enter the precious metals market. Now they ask the question: is there any point in buying gold at the current price?

Usually, the purchase of yellow precious metals should be considered as insurance in the event of a crisis. If you want to make money on this, then you need to buy at a low price, and sell at a high price. But if another financial crisis sets in and you do not have financial insurance in the form of gold or another liquid asset, then this mistake can cost you a lot.

Mark Mobius is the founder of Mobius Capital Partners LLP. Prior to that, he worked for 30 years at Franklin Templeton Investments, a management company, and was responsible for the many funds that worked in emerging markets.

In an interview with Bloomberg, Mobius said that in the long run, the price of gold will continue to rise, as paper money is printed in large quantities. Central banks wanted to provide the market with low interest rates, and for this they had to turn on a money printing press. He calls digital currencies, like bitcoin, “psychic currencies”: they live while they believe in them.

The expert believes that in the face of uncertainty, the demand for real assets will increase. Gold is one such investment. In addition, it has the function of money and can act as a means of payment. For this reason, Mark Mobius advises long-term investors to have up to 10% of physical gold in their investment portfolio, which should be stored outside the banking system in order to exclude the possibility of confiscation.