Mobius says every portfolio needs at least 10% gold holding

Golden pick: Gold bars are seen at the Austrian Gold and Silver Separating Plant in Vienna. Billionaire trader Paul Tudor Jones lists the metal as his favourite pick over the next 12 to 24 months. — Reuters

VETERAN investor Mark Mobius says gold’s set to push higher, potentially topping US$1,500 an ounce, as interest rates head lower, central banks extend purchases, and uncertainty surrounding geopolitics and cryptocurrencies fans demand.

“I love gold,” Mobius, who set up Mobius Capital Partners LLP last year after three decades at Franklin Templeton Investments, said in an interview in Singapore, adding that bullion should always form part of a portfolio, with a holding of at least 10%. “As these interest rates come down, where do you go?”