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Mark Mobius: Wait for a correction to pile into gold

'I would not advise buying gold or precious metals at this time until a price correction has taken place,' Mobius said

Gold bullion bars
Gold bullion bars Photo: Getty Images

Buy gold? Not so fast, according to legendary investor Mark Mobius.

Mobius, an emerging-markets investing pioneer, told Financial News that investors should wait for a price correction before buying gold. A correction is typically defined as a 10% or more drop in the price.

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