Seasoned investor Mark Mobius has declared that gold has lost its appeal following its historic rally, cautioning that a potential rebound in the U.S. dollar could undermine the precious metal's price, even as the broader market maintains a robustly bullish sentiment. Mobius, the managing director of Mobius Emerging Opportunities Fund, stated in a Friday interview, "I certainly would not buy at these prices." He further added that he would consider purchasing the metal if its price were 20% lower than current levels.

Mobius pointed out that the U.S. dollar could strengthen from its present level due to forecasts indicating an improvement in the American economy, a shift that would likely diminish the allure of precious metals. Mobius's cautious outlook comes after gold experienced its best performance year since 1979.

In 2025, the surge in gold prices was primarily fueled by central bank purchases, low interest rates, and the so-called "debasement trade," where investor concerns over rising debt prompted them to sell off government bonds and currencies. As many of the factors that propelled gold higher last year remain in place, numerous investors continue to hold an optimistic view of the future.

Mobius also expressed that China, India, and South Korea are the most attractive stock markets in Asia for global investors. He added that the upward momentum in Chinese equities appears sustainable due to the country's significant advancements in the technology sector. Having invested in developing nations for nearly three decades, Mobius said, "China's goal now is to surpass the United States in high-end chips and all sorts of AI technologies." He remains bullish on Indian stocks, citing expectations of increased government spending and investment, particularly in the technology field.