Foreign.
Hello and welcome to the Bulletin with UBS on Monocle Radio.
Each week the sharpest minds and freshest thinkers in finance take you beyond the numbers and hype right to the heart of the big issues of the day.
On this week's program we're talking about gold.
Gold prices soared to another all time high this past week,
breaking through the $3,000 per ounce barrier that saw the metal up 14% year to date following a 27% gain in 2024.
The last time bullion crossed a thousand dollar threshold was when it broke through the $2,000 per ounce mark in August 2020amidst a pandemic driven surge.
With the price having now reached UBS Global Wealth Management,
CIO's long held target, the main question is will this rally continue?
Well,
here to remind us of the recent history of the price of the yellow metal and to try and answer
that key question,
I'm delighted to welcome back to the programme our good friend Wayne Gordon,
Managing Director in the UBS CIO in Singapore.
Wayne, always a pleasure.
Now recap how we've got from that previous 2020 threshold nearly five years back.
Now to this week's latest high.
How do we get here?
Wayne, it's been a pretty remarkable journey to be fair.
One of the key things that has changed in the gold market,