If you knew what was coming, you would “buy gold on any level!”
So says Mark Mobius, the founder of Mobius Capital Partners and an emerging markets fund manager.
We think Mobius is worth listening to
On his retirement from Templeton last year Barron’s wrote, “The renowned Franklin Templeton Investments value manager has jetted from one far-flung corner of the world to the next, navigating military coups, Siberian snowstorms, and corrupt executives hurling threats, to unearth bargains as some of the world’s poorest countries transformed into economic powerhouses.
“Mobius… made a name for himself with on-the-ground research.”
In an appearance on Bloomberg Tuesday (8/20), the interviewer asked, “At what level should people be looking to buy gold.?”
“I think you have to be buying gold at any level, frankly,” he replied. “I think gold’s long-term prospect is up, up, and up.”
“The reason why I say that,” he explained, “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.”
Mobius was especially clear that he means physical gold and warned against paper gold substitutes.
That’s a point that cannot be made too clearly. One of gold’s chief attributes is that it is not someone else’s liability. It is not dependent on someone’s promise or management. But this unique and increasingly crucial advantage only applies to physical precious metals, the gold and silver coins and bullion that you own outright and have taken into you own possession. It does not extend to paper gold, stock and other representations of gold ownership, commodity contracts, or ETFs.
Learn more about in our post from last March on needless Counter-Party Risk, and speak with an RME Gold associate today about owning real gold and silver. Simply call our office, (602) 955-6500, and you will be connected to one of our knowledgeable gold and silver professionals.