SDR'S GOLD / SILVER -GLOBAL RESET

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Money experts predict global stock markets will collapse soon

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02/05/2018

Agencies

Egyptian billionaire Naguib Sawiris said on Wednesday that "stock market collapse is overvalued, while at the same time he sees the price of an ounce of gold as high as $ 1,800."

The Egyptian businessman said during a television interview with Bloomberg, that investors usually prefer to resort to gold in times of crisis.

Warnings on global equity markets have risen recently, after having seen marked fluctuations since the beginning of the year after record highs in 2017.

Gold is trading at slightly above $ 1,300 an ounce.

Sawiris invested half of his $ 5.7 billion fortune in gold.

"We are witnessing major crises at the moment," he said, referring to the situation in the Middle East and the rest of the world and what President Donald Trump is doing.

Sawiris pointed out that Donald Trump would help him if a peace agreement was reached in North Korea as it would lead to Egyptian investments in the isolated state.

Last week, the two Koreas managed to end the state of war after nearly seven decades, paving the way for a meeting this month.

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