I don’t know about anyone else but I don’t a bunch of money laying around just to invest in Gold with but this still got my attention right away.
Then again my sensitivity to Doom Porn is extremely high.
Make your own conclusions, I’m just throwing this out there.
Then again, Billionaires don’t get rich by being ignorant of what is going on in the world.
Egyptian billionaire Naguib Sawiris isn’t your typical gold bug.
The chairman of Orascom Telecom Media and Technology Holding S.A.E. told Bloomberg in an interview from Cairo this week that he sees gold GCM8, -1.08% surging up to $1,800 an ounce while the “overvalued” stock market hits the skids.
Sawiris, Egypt’s second-richest man behind his younger brother, is putting his money where his mouth is, investing half his $5.7 billion net worth in gold.
“In the end you have China and they will not stop consuming,” he said. “And people also tend to go to gold during crises and we are full of crises right now. Look at the Middle East and the rest of the world and Mr. Trump doesn’t help.”