INVESTMENT
Citibank turns gold crazy
- Published: 15/02/2012 at 02:17 AM
- Newspaper section: Business
Citibank is advising wealthy clients to overweight their gold portfolio in line with the precious metal's rising price in order to maximise asset value amid global economic uncertainty.
Haren Shah, a senior investment strategist for wealth management in the Asia-Pacific for Citibank, said the company this year began splitting the gold portfolios of its high-net-worth clients from of their commodity portfolios due to the greater opportunities afforded by gold.
It now recommends customers allocate 3-5% of their investment portfolio to gold but says there is a great possibility that will be upped to 10%.
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About the author
- Writer: Somruedi Banchongduang
- Position: Business Reporter
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