(Zerohedge)
Last week we reported that the mainstream is turning bullish on gold, and in recent months, a number of prominent investors including Paul Tudor Jones, Thomas Kaplan and David Roche have all talked up the yellow metal. This week, we have another well-known veteran investor saying buy gold.
During an interview with Bloomberg, Mark Mobius said that at this point investors should buy gold “at any level.”
I think gold long-term prospect is up, up, and up.”
Why is Mobius bullish on gold? As he put it, central banks are going to be printing lots of money in the near future.
The reason why I say that 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.”
The Federal Reserve cut rates for the first time in over a decade last month. Powell tried to downplay the move, insisting it wasn’t the beginning of a long rate-cutting cycle. Peter Schiff said that’s true – only because it won’t take long to get to zero.Read more
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