Oliver Conway

Now it's worth over $5,000.

So more than doubling in value, a really staggering increase for gold.

Before that, prices were kind of flat.

The very simple explanation to that is

is that people buy gold in times of uncertainty.

It's known as a safe haven asset.

And the world has been a very uncertain place, not just this year, but for the past couple of years.

So people have been turning increasingly to gold.

We've had a lot of uncertainty over the past year in terms of policies changing from the US.

Why does it just keep going up and up and up, though?

because the world seems more and more uncertain.

If you think just in the first three weeks of this year, you had US intervention in Venezuela, protests in Iran, which is a major oil producer, so that has a knock-on effect on oil prices.

You had the row over Greenland and then the threats and tariffs on US allies and then the retraction of those threats from Donald Trump.

And if you're an investor, you basically look at the stock market going up, going down, going up, going down.

not really knowing how things are going to pan out.

And you say, well, I'm not going to put my money so much in the stock market.

I'm going to hedge it.

So I'm going to minimize my risk and buy gold instead.

And it's not just private investors.

It's not just me and you or even commercial entities, investment funds.