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This is Money Podcast
Gold price hits record high - should you invest in the precious metal?
Aug 23, 2024
Tanya Jefferies, a financial markets expert, Georgie Frost, a personal finance journalist, and Lee Boyce, a financial analyst, discuss gold hitting record highs amid economic uncertainty. They dive into the factors influencing this surge, the volatility of gold investments, and the implications for households facing rising energy bills this winter. The trio also tackles the legal intricacies of lending money to friends while intoxicated and the potential challenges of living next to a property converted for student housing. It's a fascinating blend of finance and real-life dilemmas!
42:31
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Quick takeaways
- Gold's record high price, driven by inflation fears and interest rate cuts, necessitates careful investment strategies to mitigate volatility.
- Rising energy bills, exacerbated by geopolitical factors and the withdrawal of winter fuel payments, will significantly strain households this winter.
Deep dives
Record Gold Prices and Investment Insights
Gold prices recently reached a record high of over $2,500 an ounce, driven mainly by inflation trends and expectations of interest rate cuts by the US Federal Reserve. It serves as a hedge against inflation, appealing to many investors due to growing concerns about a potential recession. Investing in gold can be approached in various ways, including purchasing physical gold, gold mining shares, or exchange-traded commodities (ETCs) that are backed by physical gold. Experts recommend that investors allocate no more than 5-10% of their portfolio to gold, as its price can be volatile and unpredictable.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode