SmarterMarkets™ Gold for the 21st Century Episode 1 | David Gornall, Strategic Advisor for Precious Metals, Abaxx Exchange & Former Chairman, LBMA
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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.
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Shifting Reserves
- Central banks are shifting away from the US dollar and euro.
- They are increasing their gold reserves, mirroring a potential paradigm shift.
Gold's Resurgence
- The future of gold might resemble its past, playing a larger role in financial systems.
- Central banks, particularly in the East, are driving this resurgence in gold interest.
Gold Market Structure Issues
- Current gold market structure, with its disparate markets and bar sizes, needs improvement.
- This fragmented structure hinders gold's use as a high-quality liquid asset and collateral.