Mark Mobius, the founder of Mobius Capital Partners, has identified safe harbor areas where investors can take on, while sanctions against Russia intensify after the invasion of Ukraine. The senior investor gave advice on gold, commodities, Chinese and Asian stocks.
“Gold will continue to rise, given the situation”
cryptocoin.com As we reported, sanctions against Russia expanded over the weekend as the West removed several Russian banks from the global SWIFT financial system. Tensions are also escalating as Russian President Vladimir Putin puts the military on high nuclear alert. All eyes are on the Russia-Ukraine negotiation attempt after Ukrainian officials approached the border to meet with Russian officials.
In response to the additional sanctions, US stocks were sold as the Dow fell 500 points after Monday’s North American opening. Meanwhile, gold remained above $1,915. Like the rest of the market, gold has been very volatile and has seen price fluctuations of around $100 last week against Russia’s military action in Ukraine. On Monday, prices once again surpassed the $1,900 mark in response to tougher sanctions against Russia. Mark Mobius told Bloomberg:
I think gold will continue to rise, given the situation. With all cryptocurrencies, we are seeing an incredible avalanche of currencies around the world. And of course that means devaluation of currencies and that means inflation and higher commodity prices.
“China will be a safe haven because they will continue to produce”
Mark Mobius has recommended in the past to allocate less than 10% of a portfolio. Meanwhile, China is emerging as another safe haven as the West imposes sanctions on Russia. Mark Mobius explains the issue as follows:
Given the fact that they haven’t been exposed to much of the situation in Europe, China will likely be in a pretty good position. I think China will be a safe haven because they will continue to produce, they will continue to grow.
In addition, Mark Mobius points out that oil prices will play an important role in this geopolitical conflict and will leave a mark on global inflation. But some countries, such as Thailand, Vietnam, Taiwan, the Philippines, Malaysia, Indonesia, and Korea, are more insulated from conflict than others. “Given the fact that interest rates are rising, it will be very important for people to collect stocks,” the senior investor said, noting that the outlook is very mixed.
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