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Investing in a pandemic: Gold remains the gold standard

14 July 2020 7:28 PM
Tags:
Gold
The Money Show
Bruce Whitfield
Personal finance
Gold price
investing
Arabile Gumede
Investment Analyst
investing in gold
Izak Odendaal
Old Mutual Wealth

Gold is glittering. Arabile Gumede asks Izak Odendaal (Investment Analyst at Old Mutual Wealth) to tell us more.

The gold price is trading at near eight-year highs.

An ounce of gold fetched $1799 late on Tuesday afternoon (South Africa).

The price of gold reached a record-high of $1921 in August 2011.

Gold is glittering right now.

Related article: How to invest if you believe we’re heading for an economic depression


Gold price performance in US$

  • 30 days +4.36%

  • Six months +16.16%

  • One year +27.87%

  • Five years +57.16%

  • 20 years +538.3%

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed Izak Odendaal, an Investment Analyst at Old Mutual Wealth, about the gold rally and the reasons for it.

It’s an incredibly positive macro-environment for gold… The key drivers have been the absolute collapse in global interest rates… and the fear that there’s a massive wave of inflation coming…

Izak Odendaal, Investment Analyst - Old Mutual Wealth

We’ve been mining gold since 1886. All the good stuff is out of the ground already…

Izak Odendaal, Investment Analyst - Old Mutual Wealth

In rand terms, the gold price is at a record high… making marginal mines more attractive…

Izak Odendaal, Investment Analyst - Old Mutual Wealth

We’ve missed out on the previous commodity boom. We can’t afford to miss out once more.

Izak Odendaal, Investment Analyst - Old Mutual Wealth

Listen to the interview in the audio below.


14 July 2020 7:28 PM
Tags:
Gold
The Money Show
Bruce Whitfield
Personal finance
Gold price
investing
Arabile Gumede
Investment Analyst
investing in gold
Izak Odendaal
Old Mutual Wealth

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