Speaking at a conference in Asia on Tuesday the Blackrock Inc. chairman said that historically gold “was a great instrument for storing of wealth” but that it has lost some of its lustre and there were other ways to store your wealth that are inflation-adjusted.
He pointed to apartments in New York, London and Vancouver as being better alternatives; just behind contemporary art.
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The World’s biggest asset manager Laurence D. Fink says that buying a condo in Vancouver is a better investment than buying gold bullion.