Egyptian billionaire Naguib Sawiris says a quarter of a portfolio should be in gold

Gold is a good investment at a time when the world is concerned about inflation, Egyptian billionaire Naguib Sawiris told CNBC.

The precious metal is often touted as a hedge against rising prices and a safe-haven asset that should make up around 5% to 10% of an investor’s portfolio.

But long-time gold investor Sawiris recommends allocating much more to gold.

“I say 20% to 30%. I used to be at 50%,” the chairman and CEO of Orascom Investment Holding told CNBC’s “Capital Connection” on Tuesday. “It’s something that’s fundamental. It’s always been there.”