Investment guru Mark Mobius predicts gold will double in price in the next decade.

“People ask me what is your target for 10 years, I would say it will be double the price it is now,” the emerging markets fund manager and founder of Mobius Capital Partners LLP told India's CNBC-TV19.

Spot gold slipped 0.1% to $1,453.70 per ounce as of late Tuesday. U.S. gold futures settled down 0.2% at $1,453.70 per ounce, according to Reuters.

“I am bullish on gold. I am not saying that gold is not going to go down because it is going to fluctuate, but people should have at least 10 percent of their portfolio in physical gold,” he said.

“As I have been saying that with the rise of cryptocurrencies no one really knows what the money supply is. You add that to the fact that the Europeans and the Americans and other countries have been printing like crazy, means that money supply has gone through the roof and therefore the value of gold has to increase because it is a kind of a currency with limited supply,” he said.

Gold, considered a safe store of value during economic and political uncertainties, has risen about 13% so far this year on concerns regarding the U.S.-China trade resolution and monetary policy easing by global central banks, Reuters reported.

Mobius is far from being the lone bullish voice on gold.

Agnico Eagle Mines Ltd. Chief Executive Officer Sean Boyd recently said he expects gold prices to continue to strengthen amid global economic uncertainty and deficit spending, and the metal may hit a record $2,000 an ounce in the next two to three years.

“Governments focus on running a deficit budget and spending; that loose money approach is good for gold,” Boyd said in a recent telephone interview, Bloomberg reported. “You continue to get good buyer demand from China, India and the biggest buying coming from the central banks since the early 1970s.”

The Toronto-based miner plans to increase dividends and strengthen its balance sheet with the extra cash flow generated from higher gold prices, while share buybacks aren’t something the company is considering at the moment.