John Reade

speaker

553 appearances 2 recordings 1 series first heard Oct 2024 last heard 10 Oct

John Reade’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Oct 2025 with 1.

newest first · ▶ plays the moment

NAB Morning Call · Weekend Edition: Going for Gold · 4 Oct 2024 podcast

Now, the key thing here, Phil, is interest rates are coming down.

So the extent to which interest rates in the West have been a barrier to Western investment, we'd expect to see Western investors

increasing legal purchases uh over the next year or two.

And we're beginning to see the first signs of that coming through as well.

Well, I I would decouple the central bank gold buying from the potential for a gold backed currency.

Uh uh because there are different um drivers there.

Central banks buy gold for a number of reasons.

Part of it is a diversification of an investment portfolio like any normal investor would do.

Um an emerging market central banks don't have as much gold as the their developed market peers for historic reasons.

They built up vast foreign exchange reserves but didn't add to gold.

Now they're seeing the merits for adding to gold.

And that's been the story since the global financial crisis.

The key though is in twenty twenty two they doubled the amount of gold that they were purchasing.

And I think there's a couple of things behind that.

One is a recognition that we're in a higher inflation.

inflationary environment than we were in the ten years that followed the GFC.

You think about it, after the GFC, central banks were struggling to get inflation up to target.

I think the expectation is now is that inflation will be higher, more volatile, and the challenge will be to get it down towards target.

So if you have a different inflationary outlook, that changes, you know, perhaps how much gold you want to own.

I think the second thing is as well is that central banks are in general overweight the US dollar.

Showing 361–380 of 553 · page 19 of 28