7 days ago
Unearthed: EU Economic Outlooks & Potential Renaissance, ft. Reinhard Cluse, UBS
This episode of Unearthed was recorded on Wednesday, April 23.
In this episode of Unearthed, hosts John Reade and Joseph Cavatoni are joined by Reinhard Cluse, Chief European Economist at UBS, to explore the shifting dynamics of Europe's economy and the potential outlook for the months and years ahead. Reinhard discusses the structural challenges Europe has faced over the past decade and how these will influence the upcoming year. The group also discuss how Europe's evolving landscape could impact global asset allocation, including a bullish forecast for gold. Tune in for a nuanced discussion on Europe’s economic challenges, opportunities, and its potential renaissance.
Additional Resources:
2023 Central Bank Gold Reserves Survey
Notable Quotes:
"Gold remains the cleanest way to express dollar downside, and we see a potential 15–20% upsell in gold." – Reinhard Cluse
"Politics are the dominant theme and are likely to stay the dominant theme over the next couple of months, quarters, perhaps longer." – Reinhard Cluse
"Europe remains a major economic power, with Western European investment demand for gold accounting for roughly 20–22% of global bar and coin demand." – John Reade
"Europe was forced to get its act together; pressure has driven significant movement, especially in defense and infrastructure." – Reinhard Cluse
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