Veteran investor Mark Mobius has expressed optimism about gold's long-term prospects.
"Gold's long-term prospect is up, up and up, and the reason why I say that is money supply is up, up and up," Mobius told Bloomberg in an interview.
Central banks lowering rates and the rise of cryptocurrencies might cause investors to shift their attention to gold, according to Mobius.
“With the efforts by the central banks to lower interest rates, they’re going to be printing like crazy," Mobius said.
"I call them (cryptocurrencies) 'psycho currencies', because it's a matter of faith whether you believe in itcoin or any of the other cyber-currencies. I think with the rise of that, there’s going to be a demand for real, hard assets, and that includes gold," Mobius added.
Mobius recommended allocating 10 percent of a portfolio to a physical bullion or precious metals.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!