Gold: what’s the point anymore?
The precious metal has been stubbornly flat even as markets have been losing their heads. Why does it have a continued allure?
At a memorable presentation given by Graham Birch, the former head of BlackRock’s natural resources investment team, he concluded his talk by referring to the bar of gold he’d set beside him.
“The whole time I’ve been talking this has been absolutely unchanged. That’s why people buy gold,” he said...