Unearthed

Unearthed: Outlook for Gold in 2025

The following episode was recorded on December 9, 2024.
Joe Cavatoni and John Reade of the World Gold Council review gold's impressive 2024 performance, with a 28% gain through November—the best in over a decade. They explore the outlook for 2025, expecting modest growth fueled by falling U.S. interest rates and a slow economic recovery. The conversation looks at key factors shaping gold markets: U.S. economic policies, geopolitical uncertainty, and emerging innovation. As Bitcoin hits record highs and central banks like China’s return to gold, the episode explores how these trends might position gold as a steady asset in an unpredictable year ahead. 
About World Gold Council
We are a membership organization that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry progress, shaping policy and setting the standards for a perpetual and sustainable gold market.
You can follow the World Gold Council on Twitter at @goldcouncil and LinkedIn.
Terms & Conditions | World Gold Council

Unearthed: Artisanal Gold Mining, ft. Jean Martineau, Dynacor

In this episode, hosts John Reade and Joe Cavatoni from the World Gold Council interview Jean Martineau, President & CEO, Dynacor Gold Mines Inc. during the LMBA & LPPM 2024 Global Precious Metals Conference, to discuss artisanal and small-scale gold mining and how it fits into the bigger picture of the global gold industry. Martineau dives into Dynacor’s operations in Peru and how they’ve created a unique operational framework to help earn the trust of local, small-scale gold miners. He also shares more about how they are focusing on education and safety through work with geologists, engineers and other NGO groups that support education and health within the communities where the miners operate. He concludes the conversation by discussing where Dynacor is headed to next, as they explore opportunities in Africa.
[2:15] Martineau shares the history of Dynacor and how they work with artisanal miners 
[9:00] Dynacor’s relationship with miners in Peru and how they have built trust within the industry and with their miners 
[10:51] A conversation that Martineau overheard between two miners where one shared that Dynacor is one of the only mills he has worked with that is trustworthy
[16:40] The collaboration between Dynacor and NGO groups to help support education and health for miners 
[20:47] New geographies Dynacor is exploring and sees the most potential to expand in the future
[26:34] Martineau shares his fun fact about gold 
 
Additional Resources:
www.gold.org
Dynacor Group
Jean Martineau LinkedIn
Dynacor Group: Construction of a Pilot Plant in Senegal
 
Notable Quotes:
“We work very transparently with the miners.” -Jean Martineau
“I always tell our guys we are working on a long-term basis. I prefer to lose one miner, than lose our reputation.” -Jean Martineau
“At the beginning, in the 2000’s there were no rules, but now our government tried to formalize that and they began in Peru formalizing the process in 2012, so since then we have established a complete transparency standard. So, each time we have a new miner coming in, we have 25 points we verify - if he’s really registered, if he’s working legally, if he’s working in this concession or the other one. So, everything is verified this way.” -Jean Martineau
About World Gold Council
We are a membership organization that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry progress, shaping policy and setting the standards for a perpetual and sustainable gold market.
You can follow the World Gold Council on X at @goldcouncil and LinkedIn.
 
Terms & Conditions | World Gold Council

Unearthed: Digging deep into China’s new economic stimulus package ft. Professor Hao Zhou

In this episode of Unearthed, co-hosts Joe Cavatoni and John Reade, Senior Market Strategists for the World Gold Council, are joined by Professor Hao Zhou from Tsinghua University to dive into the shifting dynamics of China’s economy and its impact on the global gold market. Together, they discuss China’s incredible economic transformation since 1978, the causes behind the recent slowdown in economic growth described by Professor Zhou as the three interconnected problems of: declining real estate, local government debt, and suppressed private industry. The trio also review how China’s new stimulus package could get the country back on the growth trajectory, and to conclude, Professor Zhou gives his two cents on what’s in store for the gold market in China.
 
[1:32] Professor Zhou discusses the Chinese economy from 1949 until 1978 and the characteristics of the market during those years. 
[7:58] Professor Zhou discusses the declining real estate market and what that means for GDP.
[14:47] Joe asks about the historical regional wealth distribution in China.
[22:18] John asks whether the stimulus packages from the Chinese government will work and how long it might take for them to work. 
[29:02] Joe asks Professor Zhou for his views on how investment in gold is playing out in the broader Chinese economy.
Additional Resources
Gold Demand Trends Q3 2023 
Gold Reserves by Country
​​2023 Central Bank Gold Reserves Survey
 
Notable Quotes
"China is the world's largest economy, it's the country with the biggest gold demand, and is the largest gold mining country around. So it's no surprise that what is happening with the Chinese economy is vital to the gold market." –John Reade
"Since 1978 until now, the real growth, per capita GDP, taking out inflation, the real growth, is about eight to nine times. So the personal wealth, personal well-being increased more than eight, close to nine times over the last 40 years." –Professor Hao Zhou
“The most pressing and dangerous issue is a declining real estate...It's a tremendously important part of the economy and if it's declining 30%, you can imagine how important it affects other industries, the consumer sentiment, the government fiscal revenue, they are all connected.” –Professor Hao Zhou
“I'm going to argue looking back on the history of Chinese reform, the best reform measure always comes after the worst period of economic growth.” –Professor Hao Zhou
“[Regional autonomy in tax collection is] a radical shift in terms of how policy's been managed to date… I mean most if not all has been centralized by central government. This is a pretty substantial step that the central government is affording these regional governments.” –Joe Cavantoni
"It’s clear that the Chinese government has recognized that they need to act now, and act enthusiastically, in order to bring the Chinese economy back onto the rapid growth path." –John Reade 
About World Gold Council
We are a membership organization that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry progress, shaping policy and setting the standards for a perpetual and sustainable gold market.
You can follow the World Gold Council on Twitter at @goldcouncil and LinkedIn.
 
Terms & Conditions | World Gold Council

Unearthed: Gold responds to the Fed's rate cut, US election and China stimulus

In this episode of Unearthed, hosts John Reade and Joe Cavatoni discuss the latest gold market trends, reflecting on the U.S. election outcome, monetary policy, and China’s recent economic developments. They highlight record-breaking gold demand, central bank buying, and shifting global economic dynamics influencing gold prices (more via Gold Demand Trends Q3 2024). They explore how geopolitical uncertainties, inflation concerns, and market corrections are shaping investment strategies worldwide. With gold’s role in China's investment market and Western investors returning to risk assets, this episode unpacks the critical factors driving gold’s future. 

Unearthed: Gold Prices Respond to U.S. Unemployment and Rate Cut Cycle

In this episode of "Unearthed," John and Joe discuss the recent U.S. Nonfarm Payrolls report and its impact on the gold market. The stronger-than-expected employment data has shifted expectations around Federal Reserve rate cuts, leading to a dip in gold prices. While Western investors are adjusting expectations for future rate cuts, China’s market absence also influenced gold prices this week. Despite some corrections, overall sentiment towards gold remains strong, driven in part by rising inflows into ETFs. Many investors are looking to buy on dips, but with limited opportunities for lower prices, gold continues to be a sought-after asset for risk mitigation and diversification.

Unearthed: Refining, Minting and More ft. Lorne Whitmore, Royal Canadian Mint

In this episode, hosts John Reade and Joe Cavatoni from the World Gold Council interview Lorne Whitmore, Managing Director Sales, Precious Metal Products and Services, Royal Canadian Mint, to discuss the comprehensive products and services that the Royal Canadian Mint provides across mining and refining, minting and vaulting. Whitmore dives into how the Royal Canadian Mint supports each facet of the supply chain and shares some of the key trends that are currently impacting its client base regarding demand for precious metals. He concludes the conversation by showcasing examples of the types of physical bullion in which one can invest.
 
[1:12] Whitmore shares information about the Royal Canadian Mint and its role in the industry.
[6:00] Why the Royal Canadian Mint is seeing an uptick in new-end customers
[11:14] The Royal Canadian Mint’s unique advantage for being in the vaulting business
[25:26] Whitmore shares how the Royal Canadian Mint’s facilities are nimble to keep up with consumer demand
[28:05] Whitmore shares a fun fact about gold.
 
Additional Resources:
www.gold.org
www.mint.ca
Lorne Whitmore LinkedIn
More on the L. M. Montgomery Commemorative Circulation Coin and other Royal Canadian Mint gold coins
Ep 10 - Unearthed Tracing Gold from Mine to Vault ft. Marie Lemay and Rob Sargent, The Royal Canadian Mint
Ep 9 - Unearthed: Physical Gold Market Dynamics ft. Philip Newman, Metals Focus
 
Notable Quotes:
“We’re able to provide a global platform, which is increasingly important when people are looking for global liquidity with their investment products.” -Lorne Whitmore
“Clearly the level of demand that we’re seeing for retail minted bullion products are not what they were in the heyday of 2020, through 2022, and parts of 2023– up until just after the banking crisis we did see a pickup, but prior to that I think the whole marketplace was seeing a little bit of a slow down and then things gradually sort of moderated, and they continue to be at more moderate levels of demand.” -Lorne Whitmore
“Being a vaulter of those assets, it really does give us quite an interesting vantage point to observe not just the coin and bar business, but some institutionally driven collective vehicles.” -Lorne Whitmore
“Obviously our core mandate is to provide circulation coinage for commerce, as well as the distribution of coins, which is so at the core of what we do. However, we have important roles to support the mining industry, as well as the financial services industry, through our refinery and through our products.” -Lorne Whitmore
About World Gold Council
We are a membership organization that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry progress, shaping policy and setting the standards for a perpetual and sustainable gold market.
You can follow the World Gold Council on X at @goldcouncil and LinkedIn.
 
Terms & Conditions | World Gold Council
 
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Unearthed : Affinage, monnayage et plus, avec Lorne Whitmore, de la Monnaie royale canadienne
NOTES SUR L’ÉPISODEDans cet épisode, les animateurs John Reade et Joe Cavatoni, du World Gold Council, s’entretiennent avec Lorne Whitmore, directeur général des ventes, Produits et services de métaux précieux à la Monnaie royale canadienne. Ils discutent de la vaste gamme de produits et de services qu’offre la Monnaie royale canadienne dans le secteur des mines, de l’affinage, du monnayage et de l’entreposage sécurisé. M. Whitmore décrit la façon dont la Monnaie royale canadienne appuie de nombreuses facettes de la chaîne d’approvisionnement et présente certaines des grandes tendances qui touchent actuellement sa clientèle en ce qui concerne la demande de métaux précieux. Il conclut la conversation en donnant des exemples des types de produits physiques dans lesquels une personne peut investir.
 
[1:12] M. Whitmore donne des renseignements sur la Monnaie royale canadienne et son rôle dans l’industrie.
[6:00] Les raisons qui expliquent l’augmentation du nombre de clients finaux à la Monnaie royale canadienne.
[11:14] L’avantage distinctif de la Monnaie royale canadienne dans le secteur de l’entreposage sécurisé.
[25:26] M. Whitmore explique que la Monnaie royale canadienne arrive à suivre la demande des consommateurs grâce à l’agilité de ses installations.
[28:05] M. Whitmore transmet un fait intéressant au sujet de l’or.
 
Ressources complémentaires
www.gold.org
www.monnaie.ca
Profil LinkedIn de Lorne Whitmore
Renseignements sur la pièce de circulation commémorative consacrée à L. M. Montgomery et les pièces en or de la Monnaie royale canadienne
Épisode 10 – Unearthed : Le parcours de l’or, de la mine jusqu’à la chambre forte, avec Marie Lemay et Rob Sargent, de la Monnaie royale canadienne
Épisode 9 (en anglais seulement) – Unearthed : Physical Gold Market Dynamics, avec Philip Newman, de Metals Focus
 
Extraits de l’épisode
« Nous arrivons à offrir une plateforme mondiale, ce qui est de plus en plus important quand les gens recherchent de la liquidité à l’échelle mondiale pour leurs produits d’investissement. » – Lorne Whitmore
« Il est clair que, dans la vente au détail, la demande de produits d’investissement n’est pas ce qu’elle était dans la période faste de 2020 à 2022, et en partie en 2023, jusqu’à la fin de crise bancaire. Il y a bien eu une reprise, mais avant cela, je dirais que le marché tout entier a connu un ralentissement. La demande est graduellement revenue à un niveau plutôt modéré par la suite, puis est restée à ce niveau. » – Lorne Whitmore
« En tant qu’établissement d’entreposage de ces actifs, nous sommes bien placés pour observer non seulement le monde des pièces et des lingots, mais aussi certains véhicules collectifs institutionnels. » – Lorne Whitmore
« Évidemment, notre mandat principal est de fournir des pièces de circulation pour le commerce et de voir à leur distribution. C’est au cœur de nos activités. Mais nous avons aussi l’important rôle de soutenir l’industrie minière et le secteur des services financiers grâce à notre affinerie et à nos produits. » – Lorne Whitmore
 
À propos du World Gold Council
Nous sommes une association mutuelle qui fait la promotion de l’or comme actif stratégique, façonnant ainsi l’avenir d’une chaîne d’approvisionnement de l’or responsable et accessible. Notre équipe d’experts étudie les cas d’utilisation et les possibilités relatives à l’or en fournissant des recherches, des analyses, des commentaires et des observations dignes de confiance. Nous faisons avancer l’industrie, influençons les politiques et établissons les normes pour un marché de l’or pérenne et durable.
Vous pouvez suivre le World Gold Council sur X à @goldcouncil et sur LinkedIn.
 
Modalités | World Gold Council (en anglais seulement)

Unearthed: How Rate Cuts and Policy Decisions Will Impact Gold Markets

In this special episode of "Unearthed," hosts John Reade and Joe Cavatoni from the World Gold Council discuss the 50 basis point interest rate cut by the U.S. Federal Reserve and its impact on the gold market. They emphasize that the direction toward lower rates is crucial, as it reduces barriers for Western investment in gold. They anticipate further, more measured rate cuts, which should support gold in the medium to long term. 

Unearthed: Gold Nanoparticles Under the Microscope ft. Dr. Laura Fabris

In this episode, hosts John Reade and Joe Cavatoni speak with Dr. Laura Fabris about the fascinating world of gold nanoparticles. Laura explains what gold nanoparticles are and their significant role in modern life. She shares her journey into working with gold and how it has influenced her career. The discussion highlights the impact of her research on healthcare, particularly in medical applications of gold nanoparticles. Laura addresses the critical energy transition challenge, exploring how gold nanoparticles could contribute. She also shares insights into the future advancements and potential breakthroughs in the field of gold nanoparticles.
[4:08] Laura discusses the history of gold nanoparticles, tracing when they first became a subject of scientific research.
[6:37]  Laura discusses why gold is developing in such a positive way in the healthcare industry.
[11:32] Joe asks about the applications of gold nanoparticles in water desalination.
[14:53]  Is recycling of gold nanoparticles a possibility?
[16:25] What do you think will be the next major application for gold nanoparticles beyond those we've already discussed?
 
Additional Resources:
Laura Fabris' LinkedIn
Laura Fabris' Wikipedia page
Fabris Research Group
 
Notable Quotes:
“We’re looking into the hydrogen production market into the energy market to see if this can be a really industrially relevant technology that we can bring to the next phase of industrial transition .” - Dr. Laura Fabris“We can say that (a nanoparticle) is anything that is between 1,000 to 10,000 times smaller than a hair in diameter.” - Dr. Laura Fabris“All these red colors you see in glass are actually gold nanoparticles, I’ts just we didn’t know we were making them.” - Dr. Laura Fabris“I think the most interesting property that gold nanoparticles have is the way they interact with light.” - Dr. Laura Fabris“Because the shape of these nano stars, we can absorb the entire solar spectrum, and as a consequence we can use the whole solar light to produce hydrogen from water, 7 times more efficiently than any commercial photo catalyst.” - Dr. Laura FabrisAbout World Gold Council
We are a membership organization that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry progress, shaping policy and setting the standards for a perpetual and sustainable gold market.
You can follow the World Gold Council on Twitter at @goldcouncil and LinkedIn.
Terms & Conditions | World Gold Council

Unearthed: Tracing Gold from Mine to Vault ft. Marie Lemay and Rob Sargent, The Royal Canadian Mint

EPISODE NOTESIn this episode, hosts John Reade and Joe Cavatoni from the World Gold Council interview Marie Lemay, President and CEO, Royal Canadian Mint and Rob Sargent, Director Refinery Services, Royal Canadian Mint. Lemay discusses the role of the Royal Canadian Mint in the Canadian and broader gold industry and highlights several key initiatives and priorities for the Mint. As the group dives further into the conversation, Sargent highlights how the Royal Canadian Mint’s legacy, with over 100 years of business in Ottawa, makes its refining facilities unique. The conversation then focuses on digitalization and the future of the gold industry, sharing insights on Distributed Ledger Technology (DLT) and the benefits it could bring to the precious metals industry.
 
[2:42] Marie shares how the Royal Canadian Mint supports the precious metals and refinery industry.
[7.59] John and Joe discuss how WGC members and the broader gold industry are exploring the use of DLT for enhanced supply chain transparency
[8:43] Rob discusses the digitalization of gold in the supply chain and how it could be impactful.
[10:20] What are the benefits that Distributed Ledger Technology could bring to the industry?
[18:10] What is the Royal Canadian Mint’s involvement with LBMA and WGC’s pilot GBI program?
[19:19] Rob mentions the Bullion Genesis Project. Learn more about that here.
[27:23] Rob shares his fun fact about gold.
 
Additional Resources:
www.gold.org
www.mint.ca
Marie Lemay LinkedIn
Rob Sargent LinkedIn
Press release: World Gold Council members commit to enhanced supply-chain transparency
Press release: The Royal Canadian Mint transforms its gold refining with new distributed ledger technology solution that traces metal from mine to vault
More on the Bullion Genesis Project
 
Notable Quotes:
“We pride ourselves on our responsible metal sourcing and we seek to attract refining customers who share our environmental, social and governance values.” -Marie Lemay
“As the supply chain grows and more participants get onto a digitized supply chain, then I think you have opportunities to streamline data flow as well.” -Rob Sargent
“We’ve been in the refining business here in downtown Ottawa for over 100 years, started in 1911, so there’s that brand recognition.”  -Rob Sargent
“I think the overall value of transparency sort of outweighs the competitive advantage.” -Rob Sargent
About World Gold Council
We are a membership organization that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry progress, shaping policy and setting the standards for a perpetual and sustainable gold market.
You can follow the World Gold Council on X at @goldcouncil and LinkedIn.
Terms & Conditions | World Gold Council---
Unearthed : Le parcours de l’or, de la mine jusqu’à la chambre forte », avec Marie Lemay et Rob Sargent de la Monnaie royale canadienne
 
NOTES SUR L’ÉPISODEDans cet épisode, les animateurs John Reade et Joe Cavatoni du World Gold Council s’entretiennent avec Marie Lemay, présidente de la Monnaie royale canadienne, et Rob Sargent, directeur des services d’affinage de la Monnaie royale canadienne. Marie Lemay parle du rôle de la Monnaie dans l’industrie de l’or au Canada et ailleurs, et présente quelques-unes des grandes initiatives et priorités de l’entreprise. Au fil de l’entretien, Rob Sargent explique comment le parcours de la Monnaie royale canadienne, qui mène ses activités à Ottawa depuis plus de 100 ans, rend ses installations d’affinage uniques en leur genre. La conversation se tourne ensuite vers la numérisation et l’avenir de l’industrie, notamment sur la technologie de registre distribué (TRD) et les avantages qu’elle pourrait apporter au secteur des métaux précieux.
 
[2:42] Marie Lemay explique comment la Monnaie royale canadienne soutient les secteurs des métaux précieux et de l’affinage.
[7:59] John Reade et Joe Cavatoni expliquent que les membres du WGC et l’industrie de l’or dans son ensemble se penchent sur l’utilisation de la TRD pour améliorer la transparence au sein de la chaîne d’approvisionnement.
[8:43] Rob Sargent discute de la numérisation de l’or au sein de la chaîne d’approvisionnement et de ses retombées.
[10:20] Quels avantages la technologie de registre distribué pourrait-elle avoir pour l’industrie?
[18:10] Quel est le rôle de la Monnaie royale canadienne dans le programme pilote d’intégrité des lingots d’or de la LBMA et du WGC?
[19:19] Rob Sargent mentionne le projet Origine – Produits d’investissement. Pour en savoir plus, cliquez ici.
[27:23] Rob Sargent raconte un fait intéressant sur l’or.
 
Ressources complémentaires
www.gold.org
https://www.monnaie.ca
Page LinkedIn de Marie Lemay
Page LinkedIn de Rob Sargent
Communiqué de presse (en anglais seulement) : World Gold Council members commit to enhanced supply-chain transparency
Communiqué de presse : La Monnaie royale canadienne transforme ses affineries d’or avec une nouvelle solution, la technologie de registre distribué, qui assure le suivi des métaux de la mine jusqu’au produit fini
En savoir plus sur le Projet Origine – Produits d’investissement
 
Extraits de l’épisode
« Nous sommes fiers de notre approvisionnement responsable en métaux et cherchons à attirer une clientèle d’affinage qui partage nos valeurs en ce qui concerne les facteurs environnementaux, sociaux et de gouvernance. » – Marie Lemay
« À mesure que la chaîne d’approvisionnement s’accroît et que de plus en plus de participants mettent en place une chaîne d’approvisionnement numérique, nous avons aussi une occasion de simplifier le flux de données. » – Rob Sargent
« Nous offrons des services d’affinage ici, au centre-ville d’Ottawa, depuis 1911, soit depuis plus de 100 ans. Nous jouissons donc d’une grande notoriété. » – Rob Sargent
« Je crois que la valeur globale de la transparence l’emporte sur l’avantage concurrentiel. » – Rob Sargent
À propos du World Gold Council
Nous sommes une association mutuelle qui fait la promotion de l’or comme actif stratégique, façonnant ainsi l’avenir d’une chaîne d’approvisionnement de l’or responsable et accessible. Notre équipe d’experts étudie les cas d’utilisation et les possibilités relatives à l’or en fournissant des recherches, des analyses, des commentaires et des observations dignes de confiance. Nous faisons avancer l’industrie, influençons les politiques et établissons les normes pour un marché de l’or pérenne et durable.
Vous pouvez suivre le World Gold Council sur X à @goldcouncil et sur LinkedIn.
Modalités | World Gold Council (en anglais seulement)

Unearthed: Physical Gold Market Dynamics ft. Philip Newman, Metals Focus

In this episode, live from the IPMI Conference in Orlando, Florida, hosts John Reade and Joe Cavatoni from the World Gold Council interview Philip Newman, Founding Partner of Metals Focus, to discuss the intricacies of the global bar and coin market. Newman explains the differentiation between bar and coin demand versus OTC demand. He discusses recent market trends, noting the strong demand from 2020 to early 2023 in Western markets like North America and Europe, contrasted with different dynamics in China and Turkey. Newman explains the reasons behind price premiums, influenced by supply-demand dynamics and logistical challenges, especially during events like the COVID-19 pandemic and the collapse of regional banks. He also touches on the roles of high-net-worth investors and family offices in the market. Newman concludes by offering insights into future market expectations, emphasizing the importance of price volatility and the resilience of the physical gold market, supported by central bank demand and muted scrap supply.
 
[4:18] Philip speaks to some key trends that are developing.
[7:32] Why do premiums exist when it comes to the cost of buying physical gold?
[11:36] What happens when you sell your gold, do you capture that premium?
[20:48] Are the dynamics with gold different to silver, platinum or palladium and how similar are they?
[25:05] Philip, Joe and John share their fun facts about gold.
 
Additional Resources:
www.metalsfocus.com
www.gold.org
 
Notable Quotes:
“You get very different trends, between high net worth and family office investors on one and retail investment on the other. ” - Philip Newman
“Sometimes these markets can blow a little bit hot and cold, but it’s always a struggle, I think, for the trade to try and forecast that demand.” - Philip Newman
“A retail investor is potentially going to be losing some of that premium they paid, but the hope is that the gold price has strengthened and therefore that is comfortably offsetting some of that potential loss on some of the premium.” - Philip Newman
“I think maybe you’re paying a bit more attention to the fact that the fed could reduce rates and so that, I think, is a bullish signal and I think for some of those investors there has been some fear of missing out.” - Philip Newman
About World Gold Council
We are a membership organization that champions the role gold plays as a strategic asset, shaping the future of a responsible and accessible gold supply chain. Our team of experts builds understanding of the use case and possibilities of gold through trusted research, analysis, commentary, and insights. We drive industry progress, shaping policy and setting the standards for a perpetual and sustainable gold market.
You can follow the World Gold Council on Twitter at @goldcouncil and LinkedIn.
 
Terms & Conditions | World Gold Council