SmarterMarkets™
Gold for the 21st Century Episode 1 | David Gornall, Strategic Advisor for Precious Metals, Abaxx Exchange & Former Chairman, LBMA
Mar 22, 2025
David Gornall, Strategic Advisor for Precious Metals at Abaxx Exchange and former Chairman of the LBMA, dives into the evolving role of gold in modern finance. He argues for enhanced market infrastructure to better integrate gold alongside government bonds. Gornall highlights gold's resurgence, especially in Asia, and discusses the differing gold bar sizes affecting trading practices. He also addresses challenges in sourcing gold and the need for regulatory reforms to unlock its full potential as a valuable asset in the 21st century.
30:12
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Quick takeaways
- The evolving perception of gold as a legitimate alternative to government bonds reflects a significant shift in financial paradigms amid geopolitical tensions.
- Critiques of the current gold market infrastructure highlight urgent needs for regulatory changes to improve price discovery and trading efficiency.
Deep dives
Gold's Role as a High-Quality Liquid Asset
Gold is increasingly being seen as a legitimate alternative to government bonds in the financial system, challenging traditional views that label it as a 'barbarous relic.' Recent data suggests that central banks are shifting their reserves from the dollar towards gold, indicating a paradigm shift in the perception of gold's value. This evolving role reflects a broader trend of questioning reliance on the U.S. dollar amid geopolitical tensions. The inclusion of gold as a high-quality liquid asset could enhance its status in markets, suggesting it deserves parity with government-issued securities.
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