Wealthy Asian Investors Shifting Away From US Assets and Into Gold, Crypto and Chinese Markets, According to UBS: Report
The global wealth manager UBS is reportedly seeing a shift in investment interest among its affluent customers in Asia.
The Cailian News Agency reports that during the Bloomberg New Voices event in Hong Kong on Tuesday, UBS co-head of wealth management for Asia Amy Lo says that the Swiss bank’s high-net-worth clients are increasingly veering away from US dollar assets and turning to gold, cryptocurrency and Chinese assets.
In an interview with Bloomberg correspondent Yvonne Man during the event, Lo says that gold is very popular now. Gold is traditionally regarded as a safe haven investment and prices of the yellow metal have been surging to record highs this year amid concerns that economic slowdowns will ensue following…
