by Peter Schiff, Schiff Gold:

Last week, Independent Strategy head David Roche said gold could hit $2,000by the end of the year. And Rosche isn’t the only big name in the investment world who sees a shiny future for the yellow metal. Mark Mobius recently said he thinks gold could push above $1,500 as central banks move interest rates lower, engage in more QE, and as geopolitical uncertainty continues to ramp up.

“I love gold,” Mobius said.

He also offered a bit of investment advice, saying gold should make up at least 10% of every investment portfolio — something Peter Schiff has been advising for a long time.

Mobius specifically mentioned falling interest rates in Europe.

Interest rates are going so low, particularly now in Europe. What’s the sense of holding euro when you get a negative rate? You might as well put it into gold, because gold is a much better currency.”

Of course, the Fed has also taken a decidedly dovish turn. Peter has said gold has a lot of catching up to do given the economic realities.

I think gold has a lot of catching up to do to be where it needs to be given how wrong the market expectations were regarding the Fed’s ability to shrink its balance sheet and normalize interest rates, and how wrong the markets are in their anticipation of where future inflation is likely to be and where the dollar is likely to be. So, we’re going to get some big moves up in the price of gold as far as catch-up.”

In an article published at DollarCollapse.com, John Rubino calls Mobius’ suggestion for a 10% allocation in gold “completely reasonable.”

The idea of replacing dollar cash with a historically better-performing store of wealth seems like a no-brainer in a world of soaring fiat currency debt and plunging interest rates.”

But according to Rubino, only about 1% of the world’s investable capital is currently in gold.

Moving from here to 10% would produce spectacular price gains for gold. If it’s even possible, which it might not be: Most current demand for physical metal is from the Chinese and Russian central banks, which presumably won’t be selling their reserves to investors anytime soon.”

Peter has been advocating a 10% gold allocation for years, but he’s been a lonely voice in the wilderness. What if more people begin to catch on?

Read More @ SchiffGold.com