(Bloomberg) -- Golds 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 worlds biggest asset manager.
Historically gold was a great instrument for storing of wealth, the chairman of BlackRock said at a conference in Singapore on Tuesday. Gold has lost its luster and theres other mechanisms in which you can store wealth that are inflation-adjusted.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access