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Viewsroom

Gold glistens brighter in a chaotic world

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 22 May 2025

⏱️ 18 minutes

🧾️ Download transcript

Summary

The yellow metal’s value rose by over a third in the past year, as volatile markets and a sliding dollar highlight the oldest safe haven. On this Viewsroom podcast, Breakingviews columnists debate the degree to which investors may be seeking a hedge against the whims of states. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt-out of targeted advertising.   Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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to learn more. The views expressed on this podcast are those of the participants, not of Rogers News.

0:39.7

So at this point, the erratic policies of the Trump administration are providing this impetus for a more rapid move away from U.S. assets.

0:51.7

Now, we'll see if that continues. We'll see sort of what that looks like over the coming months and years, but we may be in a much more rapid period of de-dollarization than we were seeing prior to Donald Trump's return to the presidency.

1:06.7

Gold is once again the prized asset for jittery investors.

1:11.6

Instability and erratic price moves in stock markets and concern about the dollar have driven gold prices into the stratosphere.

1:19.6

But the price now looks inexplicable compared to other assets like oil and silver.

1:25.6

What this all means for investors and the world economy is the focus of

1:29.6

this week's views room. Welcome back to the Views Room, the weekly podcast that invites

1:36.7

you, the listener, into a lively debate with breaking views columnists. And I'm your host, Amy

1:41.4

Donlin. And I'm Jonathan Guilfin. So, Jonathan, gold has long been seen as a hedge against volatility, right? So in stock markets

2:08.6

and other assets, as they're all crumbling, people just like go for gold. And we've seen that in many

2:13.0

different crises. But in recent months, it is broken from the pack. And I just wanted to run through some

2:20.0

numbers with you here, because I just think some of these numbers are quite stark. So over the past

2:24.5

half century, an ounce of gold, on average, cost 21 times the price of a barrel of oil. But in recent

2:31.3

days, the gold oil ratio is now above 50 times. And it's the highest level

2:36.9

ever apart from a very brief moment during the pandemic, in which, let's face it, we were all

2:42.0

in lockdown. Nobody really knew when it was going to end. And this is like, I think the main

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