Veteran investor Mark Mobius has started strong reasons investors should secure 10% of their portfolio in Gold.
Brand News Day Nigeria noted that the veteran investors gave reasons that since currencies will depreciate due to the massive stimulus carried out to thwarts the coronavirus epidemic affecting global economics.
According to Bloomberg, Morbius disclosed that “10% should be put into physical gold; Currency devaluation globally is going to be quite significantly next year given the incredible amount of money supply that has been printed.”
“It is going to be very, very good to have physical gold that you can access immediately without the danger of the government confiscating all the gold,” he added.
Bullion reached a new high last year as the coronavirus epidemic prompted a flight to safe-haven assets, but it has subsequently fallen as vaccinations have become available.
As a corollary of the continuous spread of the virus, Central banks and governments worldwide have launched an unprecedented surge of monetary and fiscal stimulus to combat the crisis, increasing balance sheets and elsewhere while straining state budgets.
Similarly, Nigeria also partook in the spread of money supply and stimulus package during the heat of the pandemic. The advice also includes Nigerian investors on the radar since the African giant country also rushes the circulation of stimulus.
Despite the ongoing rise in stocks, investors are shifting away from bullion-backed exchange-traded funds. According to Bloomberg statistics, worldwide gold-backed assets have dropped 8.5 per cent in the last year.
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