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Gold still adds a little lustre to a very well-diversified portfolio

Volatility in prices has taken the sheen off the metal as a safe-haven asset — though the rich still like their jewellery

©The Financial Times Limited 2020 Dec 2, 2022 / 12:45 PM IST
All Rights Reserved. FT and Financial Times are trademarks of the Financial Times Limited Not to be redistributed, copied or modified in any way.
Gold still adds a little lustre to a very well-diversified portfolio

Representative image

Stefan Wagstyl On the face of it, gold has lost none of its age-old allure. Russia-born billionaire Vladislav Doronin this year used nearly 40kg of the stuff to gild the outside of the Crown Building, a landmark New York skyscraper housing a hotel and luxury apartments. It is an extravagance reminiscent of Croesus, the legendarily wealthy king of ancient Lydia, who routinely donated bullion to gold-plate statues in temples when he needed a spot of divine assistance. Gold jewellery, too, is...

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