“People should have gold and this may be a good time to increase holdings in gold -- in fact I’m thinking that myself,” Mobius told Bloomberg TV in an interview.
It’s tougher for those looking to get their hands on the actual metal. The pandemic is even creating a shortage for some of the most popular coins, such as the Krugerrand from South Africa and the Maple Leaf from Canada. That means people are now taking a no-frills approach when it comes to purchases.
“A buyer would have been fussy about the coins they want two months ago,” said Seamus Fahy, co-founder of Merrion Vaults, which holds gold in security facilities across the U.K. and Ireland. “Now they will buy anything they can get their hands on. They are desperate to get physical gold.”
--With assistance from Jack Farchy, Elena Mazneva, Ranjeetha Pakiam and Stefania Spezzati.
This article was provided by Bloomberg News.