Nick Marsh

The real reason people are here is to watch Barbie.

Well, it started on Friday last week when there was some really big drops, about 10% in the price of gold.

That was linked to a couple of things.

President Trump confirming that he's appointing someone called Kevin Walsh as the new chair of America's central bank, the Federal Reserve.

That caused the value of the dollar to go up a little bit because interest rates might not go down as much as previously expected.

Also, he's seen as a

A safe pair of hands and someone who might preserve the independence of the Federal Reserve, to put it in very sort of simplistic terms.

I'm loathe to give predictions, to be perfectly honest with you, because if you'd told me that this would happen this time last week, I'd have been quite surprised.

there was always the chance that there was going to be some kind of correction after two years, literally, of rise and rise and rise for various reasons, because of low interest rates, because of very chaotic US trade and foreign policy, you know, a year of tariffs and market turmoil and that sort of thing.

And that all leads investors to want to invest more in precious metals because they're seen as safe havens.

and also central banks.

I mean, the China Central Bank has been buying so much gold bullion for its reserves.

Lots of Chinese private investors have been doing the same.

And it's important to keep it in perspective.

An ounce of gold today is still worth more than double what it was two years ago, this time two years ago.

So in the main, gold has really increased a huge amount.

It's just now we are seeing a

a pretty sharp drop, but nowhere near enough to wipe the gains that it's made over the last two years.

So if you're going to ask me for a prediction as to what's going to happen after this, I think I'm going to have to politely decline, Nick.

I'm sorry.