The increasing tension between the USA and China have given rise to uncertainties around the global economy. On July 24, the gold prices surged past $1,900 per ounce for the first time since 2011,
The COVID-19 pandemic has resulted in an increased demand for safe-haven assets such as gold and silver.
As gold prices surge, the founder of Mobius Capital Partners Mark Mobius is set to bet big on gold. Morbius said that he would continue buying the yellow metal.
In an interview, Mobius said, “When interest rates are zero or near zero, then gold is an attractive medium to have because you don’t have to worry about not getting interested in your gold. The gold price will rise as uncertainty in the markets is rising. I would be buying now and continue to buy.” It is expected that the gold price may hit $2,000 by the end of September.
