Hold 10% of portfolio in gold as currencies will be devalued: Mark Mobius

Bullion rallied to a record last year as the coronavirus pandemic spurred a flight to haven assets but it's pulled back since with the roll-out of vaccines.

Veteran investor Mark Mobius said investors should have 10% of a portfolio in gold as currencies will be devalued following the unprecedented stimulus rolled out to fight the coronavirus pandemic. 

At this stage, “10% should be put into physical gold,” said Mobius, who set up Mobius Capital Partners after more than three decades at Franklin Templeton Investments. “Currency devaluation globally is going to be quite significant next year given the incredible amount of money supply that has been printed.”

Bullion rallied to a record last year as the coronavirus pandemic spurred a flight to haven assets but it’s pulled back