Mark Mobius, the former chairman of Templeton's emerging markets team and known as the "godfather of emerging markets", said 10 per cent of investors' portfolios should be gold because currencies would depreciate after unprecedented stimulus measures to combat the COVID-19 epidemic.
At this stage, Maples says, "10% should be invested in physical gold." Given the incredible money supply that has been printed, the global currency will depreciate considerably next year. "
Gold prices rose to record levels last year as the COVID-19 pandemic prompted investors to turn to safe havens, but they have fallen sharply since the launch of the vaccine. To combat the crisis, central banks and governments around the world have launched unprecedented monetary and fiscal stimulus measures, expanding the balance sheets of the Federal Reserve and other institutions, putting pressure on national finances.
As a long-term bullish in gold, McPark said: "it would be very, very good to have physical gold. You can cash it immediately without the danger of the government confiscating all the gold."