Celia Hatton

So you've got that.

So all of that has been helping to push up the gold price.

But it's not the only thing.

The other thing that's been going on for a few years now is central banks around the world have been buying gold.

And they've been buying gold potentially because they're worried about assets being frozen by sanctions and that kind of thing.

So Russia and China are among some of the biggest buyers of gold.

And when you have a relatively finite supply, which we have with gold,

If central banks buy up a lot of it, there's less to go around for everyone else.

So when everyone else moves into gold, there is a shortage and the price goes up.

And that's what we've been seeing over the past year.

Okay, so a lot of play when it comes to gold, a lot of things coming into play there.

What about other precious metals?

Well, silver has also been rocketing.

In fact, I think the price of silver is up about 138% over the past year.

And that again, part of it is, it's a solid and stable asset.

It's a commodity that you can move into when other assets aren't doing as well.

But there are also a number of industrial uses of precious metals as well.

And when you get the combination, this is what appears to be happening with silver.

of increased industrial usage plus people moving into it as a relatively safe asset, then again, the price will go up.

Theo Leggett.