Unearthed

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

Unearthed: Critical Minerals and the Case for Gold ft. George Burns, Eldorado Gold Corporation

In this episode of "Unearthed," hosts Joe Cavatoni and John Reade speak with George Burns, President and Chief Executive Officer, Eldorado Gold, discussing critical minerals and the role of gold in our world. George joins Joe and John for the conversation in Toronto during PDAC 2024, the world's largest mineral exploration and mining conference, where George shares insight into the importance that critical minerals play in everyday life, as well as in the future for the energy transition. The conversation covers how gold is perceived around the world, and how its recognition as a critical mineral should be growing. George also provides an overview of Eldorado’s mining operations and shares inspiring examples of how Eldorado Gold is positively impacting the communities in which it operates. The trio also discuss another aspect of gold’s strategic importance to the world – how its unique properties make it a critical resource for the technology we enjoy today and medical innovations. George concludes with some of the hurdles that critical minerals may face due to the need for infrastructure to match the ambition of the energy transition. 
 
[1:07] George shares his perspective on how important critical minerals are to our planet.
[2:50] George dives into gold’s role as a critical mineral and why some countries may not view it as one.
[8:49] The group discusses how gold plays heavily into the economic security arguments and the benefits it has to local communities, and George shares the impact that Eldorado Gold leaves in its communities.
[22:23] George, Joe and John share fun facts about gold.
 
Additional Resources:
Eldorado Gold
Skouries Project
PDAC Convention
 
Notable Quotes:
"Fundamentally, all the things we enjoy on this planet, that's modern, air conditioning, infrastructure, transportation, communication, none of it's here without minerals." -George Burns
"Although gold's at a record price today, funding for junior exploration companies that are going to find the deposits of the future and the mines of the future is virtually unavailable. And with a lack of development and exploration, there's going to be challenges coming forward." -George Burns
"And I think if you look back in time, gold has been the currency that's been there the longest. So I don't see it going away, I see it gaining importance." -George Burns
“Locals have been trained to be our miners and I would tell you they are our strongest advocate. They now know the real benefits that have come into their community, the jobs and prosperity it’s brought to their families, and the educational opportunities it’s brought to their kids.” -George Burns
“I think also the experience of Russia’s invasion of Ukraine has taught politicians that you can’t print your way out of a shortage of commodities and materials and that you really need the flow of these things to make the modern life that we have.” -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 outlook for 2024 and beyond ft. Randy Smallwood, Wheaton Precious Metals

In this episode of "Unearthed," hosts Joe Cavatoni and John Reade speak with Randy Smallwood, President & CEO of Wheaton Precious Metals, discussing the innovative streaming business model that has significantly influenced the precious metals industry. As Wheaton celebrates its 20th anniversary, Randy shares insights into how this model has facilitated capital provision in exchange for byproduct production from mining operations, particularly gold and silver, establishing Wheaton as a major industry player. The conversation covers the robust gold market, driven by central bank purchases from BRIC countries, and the industrial demand and growth potential for silver. Challenges such as the decrease in new mining projects, stringent permitting processes, and the necessity for community support are examined, alongside the impact of automation and AI on improving mining efficiencies. Randy concludes with personal anecdotes and the unique value and recyclability of gold, offering a thorough perspective on the precious metals sector's financing models, market trends, and sustainability considerations.
 
[3:38] Randy hypothesizes why gold is hitting all time highs and gives insights on why that may be.
[6:37] Randy elaborates on what has impressed him about the gold demand in the past couple of years.
[11:02] The group explores the dynamic in conversation around investors expanding to other metals.
[14:35] Randy speaks about investors and what influences them the most when it comes to a decision on getting involved in a project. 
 
Additional Resources:Randy Smallwood LinkedIn 
Wheaton Precious Metals
PDAC Convention
 
Notable Quotes:
"We're going to try and change that industry with what we call streaming. And streaming is a much more partnership-focused approach to working with the operators... we supply capital for a percentage, and typically of a non-core byproduct." -Randy Smallwood
"The price is reflecting that appetite, but it just hasn't made it back to the investing public, especially on the mining sector, in terms of the companies that actually produce this gold that we all need, and so, I'm hungry for that change in appetite. Let's bring it on." -Randy Smallwood
"The only alignment that we see in BRIC is a lack of appetite for the US dollar. That's the only thing that takes some very diverse countries, economies, politics, cultures, and blends them all together, and the only constant amongst that entire group of BRIC nations is a dislike of the US dollar and a distrust of the US dollar." -Randy Smallwood
"We are very selective of what we invest into. We're always looking for assets that have high operating margins. We're seeing a dearth of those. We're seeing that dramatically drop off. There's just not as many new projects coming into play." -Randy Smallwood
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: Hard, soft or no landing ft. Karim Chedid, BlackRock

[1:27] Karim elaborates on how he perceives the overall economic climate at the present.[3:08] Are we going to see growth stabilize and even accelerate?[4:24] Karim explains mega forces and how he believes they will influence portfolios and investors.[11:41] Karim dives into geo-political risks versus opportunity.[20:46] With cash allocations possibly reaching 8%, Karim hypothesizes if investors should put their cash to work.Additional Resources:John Reade’s LinkedInJoe Cavatoni’s LinkedInJohn and Joe on the vision for the Unearthed podcastMore about the World Gold CouncilKarim Chedid LinkedIn BlackRock 2024 outlook Notable Quotes:“I think that AI is a dispersion driver. It’s a dispersion of returns and a dispersion of earnings.” - Karim Chedid“We hadn’t seen valuations become too expensive, especially on the two year forward earnings perspective because of the real impact that the AI breakthrough is having on earning projections.” - Karim Chedid“The rate cuts are coming this year, we can debate how many versus how much the market is priced in, but they are coming.” - Karim Chedid“The correlation between stocks and bonds is no longer reliable because you can have quite correlated periods between stocks and bonds.” - Karim ChedidAbout World Gold CouncilWe 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 in technology throughout the ages

[4:25] Trevor elaborates more on modern industries and electronics that are using gold.[7:53] Trevor discusses growth in gold demand for technology.[11:53] Our guest explains how gold is in many consumer devices we use in daily life.[22:10] Trevor dives into gold’s role in medical devices.[25:09] Trevor share fun facts about gold.Additional Resources:Trevor Keel LinkedInNotable Quotes:“Why does the modern industry still use gold? It’s because it’s reliable, it's because it doesn't fail and it’s particularly important in high value safety critical devices. -Trevor Keel“As new technologies come onto the market, old technologies tend to disappear and particularly that is the case when you have a relatively expensive material like gold.” -Trevor Keel“Gold now is still used heavily in the electronics industry and that’s a testament to gold as a material. Last year, just over 250 tons of gold went into the electronics industry. That’s roughly 5-6% of the entire demand for gold.” -Trevor Keel“There is a significantly larger portion of gold in an EV compared to that of a traditional IC vehicle.” -Trevor Keel“You can use gold to actually help drugs get into tumors and help drugs actually better target tumors.” -Trevor KeelAbout World Gold CouncilWe 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 (Twitter) at @goldcouncil and LinkedIn.Terms & Conditions | World Gold Council

Unearthed: The impact of geopolitics on gold ft. Tina Fordham, Fordham Global Foresight

[5:19] Is there a shift in central banks being net buyers and does it signal more than diversification in regards to a political and global perspective?[8:19] John elaborates on gold’s performance and its reaction in value during geopolitical events.[11:33] Joe asks Tina if the conflict in the Middle East is a function of US markets continuing to be spread thin and how she assesses it.[15:08] Can the election in 2024 have a substantial impact on the geopolitical landscape and when does that start to be priced in?[22:27] Is there something specific we should be watching in China? Additional Resources:Tina Fordham LinkedInFordham Global Foresight Website Notable Quotes:“We have a real disconnect at the moment between investor perception of how geopolitical risk registers based on past experience and the present environment, where those stabilizers and buffers are less present and less able to fulfill the traditional masking function.” -Tina Fordham“I think the risk of this conflict escalating is not priced in and it is something that I think is going to stay on the watchlist heading into 2024.” -Tina Fordham“In general my experience is that naturally there is a tendency for gold to get bought when you get a sudden unexpected pickup in geopolitical tensions like for example the russian invasion of Ukraine last year and similarly with the events that are transpiring in israel and now into Gaza.” -John Reade“This war is breaking social media and impacting the global left in ways that could influence election outcomes.” -Tina Fordham “China wants to change institutions or create new parallel institutions to challenge US hegemony.” -Tina Fordham About World Gold CouncilWe are a membership organisation 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, On the Ground: LBMA Conference

In this special episode of "Unearthed," hosts John Reade and Joe Cavatoni from the World Gold Council take listeners to the London Bullion Market Association Conference in Barcelona. “On the ground” at the LBMA Conference, they engage with several industry leaders, including Greg Shearer from J.P. Morgan, Nikos Kavalis of Metals Focus, Danielle Oliari of CNT, Ross Norman of Metals Daily, Bimal Das from BMO, and Jim Steel of HSBC. The discussions revolve around two primary questions: the standout aspects of the gold market in 2023 and predictions for its trajectory in 2024. Insights reveal an emerging trend in the market, with experts sharing their unique perspectives and analysis. [2:03] Greg Shearer[6:55] Nikos Kavalis .[11:25 Danielle Oliari  [18:43] Ross Norman[22:18] Bimal Das[29:11] Jim SteelAdditional Resources:More on the LBMA Greg Shearer, Head of Base and Precious Metals Research at J.P. MorganNikos Kavalis, Director at Metals Focus LtdDanielle Oliari, C.O.O. at CNT Depository, Inc. Ross Norman, CEO at Metals DailyEdison Group’s Shades of the 1970s, as referenced by Ross Norman Bimal Das, Managing Director & Global Head, Metals Sales and Structuring at Bank of MontrealJames Steel, Chief Precious Metals Analyst at HSBCEp. 1, Unearthed: Seeing around macroeconomic corners w/ Lori Heinel, State StreetNotable Quotes:“The whole thing about a recession is that it’s a non-linear break, humans think linearly… I think that’s something that our economists are constantly debating amongst themselves.” - Greg Shearer“There is a very strong case for investing in gold or diversifying as a reserve…” - Nikos Kavalis“We are seeing a bit more of the second market coming in, still not as robust as it was pre-covid” -Danielle Oliari“The chances of a rate rise, I think in November now have fallen from about 44% down to 7%. ” - Ross Norman “There’s never the best or right or optimal time to invest, you probably have to take a view that for the longer term, this is an asset where you want to park your money..” -Bimal Das“We are seeing elevated geo political risk, we’ve seen it for several years now compared to the previous 15 years, and that’s going to keep us fairly high.” - Jim SteelAbout World Gold CouncilWe 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: Why Central Banks are stocking up on gold ft. Shaokai Fan, WGC

In the latest episode of "Unearthed," hosts John Reade and Joe Cavatoni dive into the pressing question: Why are central banks stocking up on gold? As the World Gold Council's experts explore this trend, they are joined by Shaokai Fan, the authority on Central Banks and Asia-Pacific affairs. Together, they probe into record-breaking gold demand levels, the speculation of moving away from US dollar dominance, and the strategies driving allocation for reserve managers. Amidst the economic uncertainty, the trio also contrasts the moves of central banks with those of retail and institutional investors, offering a comprehensive view of the gold market's intricacies.[2:44] Shaokai explains the impact of Bretton Woods.[6:56] How do geopolitics play a role in central banks buying gold?[8:58] The hosts discuss with Shaokai why central banks hold FX reserves overall.[13:35] Shaokai explains the reasoning why central banks are holding gold specifically.[20:18] Joe and Shaokai discuss how digital currencies and crypto influence central banks.Additional Resources:Gold Demand Trends Q3 2023 Gold Reserves by Country​​2023 Central Bank Gold Reserves SurveyNotable Quotes:“For gold, (central banks) don’t look so much at return, they look at its ability to be a downside protection.” - Shaokai Fan“Central banks are some of the biggest asset owners in the world, when they’re signaling that they want to buy gold and increase the rate of their purchases, I really do think that that’s had a big impact.” - John Reade“Holding gold means that you have a certain degree of independence, of demonstrating to an international audience or sometimes a domestic audience that your country has the ability to defend its currency and defend its markets when necessary.” - Shaokai Fan“When it comes to institutional dialog with our clients, what we find there’s definitely a level of interest (in digital/crypto currency) but it’s a risk asset in their minds …and there’s a lot of work that still needs to be done before there is a wholesale adoption.” - Joseph Cavatoni“Crypto currencies don’t really fit the bill as a central bank asset. Safety, liquidity, return… not quite there yet.” - Shaokai FanAbout World Gold CouncilWe are a membership organisation 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