Australian Investors Podcast Why gold still shines: Roscoe Widdup on the cycle, central banks and picking miners
Aug 27, 2025
Roscoe Widdup, a former Goldman Sachs mining analyst and founder of 888 Capital, shares his insights on the gold market, emphasizing why a specialized gold fund is essential in today's investment landscape. He discusses the critical demand drivers from central banks and ETFs, and how supply responses affect pricing. Roscoe provides a practical checklist for evaluating gold miners, covering aspects like asset quality and jurisdiction. His bullish perspective on gold highlights its enduring role as a store of wealth and the cyclical nature of the market.
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Specialisation Beats Passive In Niche Markets
- Roscoe founded a specialised gold fund because passive and AI favour broad, low-skill products.
- Specialisation lets active managers find off-index, actionable opportunities through deep research.
Gold's Unique Store-Of-Wealth Role
- Gold combines intrinsic value, zero counterparty risk and geopolitical neutrality.
- These attributes make gold a durable store of wealth rather than a mere commodity.
2022 Shock Re-ignited Central Bank Demand
- Russia's 2022 invasion highlighted central banks' vulnerability to sanctions and reserve seizures.
- That event materially increased central bank buying of gold as geopolitical ballast.