Why the Price of Gold Reflects a Long-Term Shift
World Gold Council strategist John Reade explains the perfect storm that’s turning gold into a preferred safe haven.
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Photographer: Damian Lemanski/BloombergSubscribe to Merryn Talks Money on Apple Podcasts
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Investors have flocked to gold in the past year, prompting the precious metal to notch a series of price records and eclipse its inflation-adjusted peak from 1980. Friday’s Fed-announcement drama notwithstanding, the price of gold is up 13% so far this year. It even smashed through $5,000 per troy ounce last week—a first. What’s fueling the record-breaking run and where could the price go from here? On this week’s episode of Merryn Talks Money, John Reade, market strategist for Asia and Europe at the World Gold Council, joins host Merryn Somerset Webb to offer some answers.