Seasoned investor Mobius: Consider buying gold when the price drops by 20%, optimistic about the Chinese stock market.

Senior investor Mark Mobius stated that gold has lost its attractiveness after experiencing a historic rise, and warned that a potential rebound in the US dollar could weaken the prices of precious metals, while the majority of the market still maintains a strong bullish sentiment. Mobius, Managing Director of Mobius Emerging Opportunities Fund, said in an interview on Friday, "I definitely wouldn't buy at this price." He added that he would consider buying the metal if the price was 20% lower than today. Mobius pointed out that with predictions showing a turnaround in the US economy, the US dollar could strengthen from its current level, which could reduce the attractiveness of precious metals. Mobius' cautious views come after gold had its best year since 1979. In 2025, the surge in gold prices was mainly driven by central bank purchases of bonds, low interest rates, and so-called "devaluation trades" (where investors sell government bonds and currencies due to concerns about rising debt). As most of the factors that drove gold higher last year still exist, many investors remain optimistic about the outlook. Mobius also stated that China, India, South Korea, etc. are the most attractive stock markets for global investors in the Asian region, and added that with China's significant progress in the technology sector, the upward momentum of China's stock market seems sustainable. Having invested in developing countries for nearly thirty years, Mobius said, "China's current goal is to surpass the United States in high-end chips and various artificial intelligence technologies." He remains bullish on the Indian stock market, as the government is increasing spending and investment, especially in the technology sector.