New York Apartments, Art Top Gold as Stores of Wealth, Says FinkBloombergApr. 22, 2015 |
'Woke' Google Fires 28 Employees Who Protested Gaza Genocide
America Last: House Bill Provides $26B for Israel, $61B for Ukraine and Zero to Secure U.S. Border
Report: Blinken Sitting On Staff Recommendations to Sanction Israeli Military Units Linked to Killings or Rapes
The Guardian on Papua New Guinea Cannibalism: People Were Eaten 'Out of Respect'
Bari Weiss' Free Speech Martyr Uri Berliner Wants FBI and Police to Spy on Pro-Palestine Activists
Gold’s traditional role as a store of wealth has been usurped by contemporary art and apartments in cities such as New York and London, according to Laurence D. Fink, head of the world’s biggest asset manager. “Historically gold was a great instrument for storing of wealth,” the chairman of BlackRock Inc. said at a conference in Singapore on Tuesday. “Gold has lost its luster and there’s other mechanisms in which you can store wealth that are inflation-adjusted.” Over the centuries, bullion traditionally lured demand as a protection of wealth during crises, including conflicts and periods of inflation. Prices posted the first back-to-back annual drop last year since 2000 as investor holdings in exchange-traded products contracted, global equities rallied and the dollar climbed on prospects for higher U.S. interest rates. Since peaking in 2011, it’s dropped about 38 percent. Read More |