Legendary investor Mark Mobius warned that they will buy gold. Mobius said a correction for gold is on the way and advises investors to wait for this fix. The investor also touched on how the US election results will affect the economy.
The gold market, which has had a very active graphic in the past months, is going through a process that should be carefully monitored for those who want to invest and those who already have investments. With the worldwide impact of the coronavirus, people made their investment choices in favor of gold, and gold broke a record at the beginning of August, exceeding $ 2,000 on an ounce basis. Billionaire investor Warren Buffett’s rise in gold was reinforced with the investment in Barrick Gold shares. After the Fed’s July meeting and the news of the vaccination from Russia, gold, which experienced a withdrawal towards mid-August, showed a small decrease, traded at the band of approximately 1,900 on an ounce basis. This turbulent picture and the fluctuating gold prices brought along the questions of “when should I buy and sell” for the investors.
Mark Mobius, lead investor and founder of Mobius Capital Partners LLP, recently said in a statement about gold that investors should wait for a correction (the price drops by 10% or more) before making a purchase. Saying that the most profitable investments are in stocks and precious metals such as gold, Mobius said he is against buying gold or any other precious metal without a price correction. The famous investor emphasized that apart from gold, company shares with strong balance sheets and increasing earnings would also be smart investments.
Stood By Trump
In his statements to Financial News, Mobius said that if Joe Biden and Biden are elected in the US presidential elections at the end of this year, Kamala Harris, who is expected to become vice president, would create a disastrous situation for both America and the economy.
Mobius, when asked about the effects of the Trump victory on the stock market; He stated that this would be a positive development. He added that the famous investor Trump’s goal is to bring people back to work, to reduce unemployment and to stimulate the economy in general.