Jean-Damien Marie
speaker
185 appearances
2 recordings
1 series
first heard Jul 2026
last heard 22 Jul
Jean-Damien Marie’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 2.
Appearances
Yeah, I think the answer I'd point people to is the World Gold Council's study, which they did about 10 years ago, which concluded 5% to 8%, which means 8%, basically.
And they were being a bit cautious there.
The central banks, of course, are now at 29% with their reserves.
So they're taking it pretty seriously.
And you mentioned the good times.
Well, we've had most of the times the last 25 years have been the good times, but gold has beaten the S&P 500.
including after dividends.
And so that's into 26 years.
Gold is ahead of the S&P still.
Well, gold doesn't have to.
I think it's a bit of a misnomer that gold necessarily goes up all the time because of bad news.
I think, you know, a very simple way to think about it, particularly at the moment, particularly post-Ukraine 2022, is that gold is an important piece of the central bank reserves, always has been.
When those reserves are growing very, very quickly, the gold price is very, very strong.
And when those reserves have been growing more slowly or indeed contracting, then the gold price has been weak.
And so, you know, people ask about this year.
Well, you know, when they have got problems in the Strait of Hormuz and the central banks who are very wealthy in that region, they've got problems right now.
They need some liquidity.
So they're selling gold.
Not all of them, but some of them.
And so at the margin, there's less gold buying in 2026 than there was in 2025.
Showing 141–160 of 185 · page 8 of 10
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