Gold Market Expert
Appearances
Global News Podcast
Is Putin serious about a ceasefire in Ukraine?
Gold is relatively useless in terms of productive use, but socially it's always been used as the ultimate store of value. That seems to be where the markets want to be right now.
Global News Podcast
Is Putin serious about a ceasefire in Ukraine?
Well, I mean, there's very many ways you can buy gold. I mean, the physical gold product you might buy as jewelry. You might buy it as coins or small bars. Or you might buy it whereby somebody else looks after it for you and it's cared for in a vault. But it is about the physical products. And that's gold's appeal is its physicality.
Global News Podcast
Is Putin serious about a ceasefire in Ukraine?
You know, this is a lump of metal which nobody else's financial performance can deprive you of.
Global News Podcast
Is Putin serious about a ceasefire in Ukraine?
Absolutely. I mean, jewellery demand is very important to the gold price. But what really makes the price of gold move is when large investors' investment cash is going into gold, it typically goes into gold bars in vaults because that's where it's liquid.
Global News Podcast
Is Putin serious about a ceasefire in Ukraine?
If you think about the gold bars of classical imagination, right, Italian job, James Bond, those large 400-ounce, 12.5-kilo bars, that's really the market in gold worldwide. That's what's setting the price.
Global News Podcast
Is Putin serious about a ceasefire in Ukraine?
Central banks are increasingly important to the gold market. And this has really been a change in the last 10, 15 years. Since the Western banking financial crisis, central bank demand has really been very important to the gold market.
Global News Podcast
Is Putin serious about a ceasefire in Ukraine?
But yes, you're talking about private investors, investment companies, hedge funds, family offices, owning gold bars as tangible property within specialist bullion vaults where they can buy and sell very quickly, very easily. And security is absolutely the primary concern there.
Global News Podcast
Is Putin serious about a ceasefire in Ukraine?
The issue there is that if I was to show you a pile of yellow bricks, would you actually know whether you were looking at actually a pile of gold bars or something else? What you want is for somebody to go and say, yeah, these bars are of the quality as advertised. They are of acceptable market quality and they are all there in good.
Global News Podcast
Is Putin serious about a ceasefire in Ukraine?
So it's about really knowing that the material is what it should be and that it's all there in full. So if you're going to do a Fort Knox audit, what you're actually talking about is really a Fort Knox inspection. And that's a very much bigger job and it's going to take a long time to do.
Global News Podcast
Is Putin serious about a ceasefire in Ukraine?
And still to come on the Global News Podcast... If you think about the gold bars of classical imagination, right? Italian job, James Bond, those large 400-ounce, 12.5-kilo bars, that's really the market in gold worldwide. That's what's setting the price.