The man who handles the most money in the world said an eye-opening thing about gold

Ronit Kawale
Ronit Kawale  - Senior Editor
3 Min Read


'The economy does not benefit from investing in gold.'
Gold remains only in the safe.
Fink said investing in home is better than gold.

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New Delhi. Larry Fink, co-founder and CEO of BlackRock, the world's largest asset management company, has said a big thing to Indians regarding gold. He says that gold may be a safe investment option but it does not do anything special for an economy. He said that when he came to India in November last year, he had mentioned this to the policy makers here. According to Fink, Indian policymakers had also expressed regret about this.

Larry Fink says that gold is not an economic multiplier. According to Fink, gold lies in the safe, it may be a good store but gold does not create economic growth. He has said that buying a house or depositing money in banks is a better option than investing in gold.

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Why is it better to deposit money at home and in the bank?
Larry Fink says that investing in a home also benefits the economy. According to Fink, this is an economic multiplier. Explaining it in detail, he said that if a person buys a house, it will also need to be decorated and repaired for which he will make the purchase. He said that this will generate economic activity. Fink says that even depositing money in a bank generates economic activity because the bank uses this money to give mortgages.

Retirement fund crisis in America
Fink said that a retirement fund crisis is visible in the US. He also attributed this crisis to Indians investing in gold. He said that Japan and India will have to find other options for investment besides gold. According to Fink, today most of the banks in Japan do this work. Fink says that investing in commodities has performed worse than the stock market in India.

Tags: Business news in hindi, Gold, Gold investment

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