Bubble chasers buy Alibaba, while the super-wealthy load up on gold
What these super-wealthy investors are doing, when they’re not hoarding massive amounts of cash in anticipation of another stock-market crash, is buying the dips in gold. U.S. investors who do business in dollars are in an even better position to take advantage of this strategy. With the U.S. dollar strong, gold priced in greenbacks is especially cheap – fewer dollars therefore buy more ounces of gold.
The latest snapshot of the world’s super-wealthy is out from RBC Wealth Management and Capgemini, and it confirms that “the ranks of Asia's wealthy – as well as the region's wealth – continued to grow at a faster pace than the rest of the world last year.”