Then read more of this.
“Why don't you like gold?
"That is a sensitive personal matter. Trading in gold has the feeling of something from the past. I know our family used to trade in gold, and as a trader or the owner of a business that trades in gold I actually like it. But to hold gold as an investment, in a safe - for me that is like holding government bonds. Both bonds and gold pay close to zero interest and for me that is untenable. Maybe it's an approach I adopted because the family had the good fortune not to get entangled in the failure of Russian government bonds in the early 20th century. My grandfather went to Russia and decided to sell all his holdings there. It was sheer luck that the family did not lose money in the wake of the Russian Revolution. Personally, I no longer trade, so I am less involved in what is happening in the market."”