Marcus Grubb is managing director, Investment, at the World Gold Council and in this feature he shares his expertise on the demand - supply dynamics playing out in the gold market ... including measures used to determine, in inflation adjusted terms, when and whether gold has reached its historical high...
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Could you envisage moving back to a Gold Standard, or a variation thereof?
Do the underlying fundamentals (demand -supply) justify the price of gold?
What is the probability of finding new mines?
Could you elaborate on the rising cost of mining and extracting the precious metal?
Has the current interest in investing in gold led to a renewed interest in investing in mining & extracting (production)?
Could you put a number on the known gold reserves, and percentage of which are known to have been extracted?
What according to you has been the role played by speculators and hoarders in the context of investing in gold? Has this already been priced in?
Is there enough physical gold to actually back the recent explosion of investable products that claim to be backed by the precious metal?
In real terms (inflation adjusted) what level should gold be trading at before it has reached its historical high (my understanding is ~ USD2000oz)?