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00:00 Gold is one of the most fascinating assets right now.
00:03 Gold is one of the most attractive assets right now
00:06 because it is a high-priced asset.
00:09 At the same time, the strong dollar is a bad asset for gold,
00:12 even though gold is rising in price.
00:14 So, there is a question, why is that?
00:17 One of the obvious answers is the purchase of central banks.
00:20 We know that the Central Bank of China is buying gold strongly.
00:24 I am not sure that the Central Bank of China was behind this rise
00:28 because they are famous for buying at a low price and selling at a high price.
00:31 I think what happened is that there is a perception that the inflation is rising a little bit again
00:36 and that the federal reserve does nothing about it.
00:39 They may reduce interest rates or at least delay them.
00:43 I think this leads to an increase in demand for gold.
00:46 As you know, we love gold.
00:48 I mean, I would like to say that we like to take care of it more
00:51 because gold has risen a lot.
00:54 But yes, it is a good way to fight geopolitical tensions.
00:58 Even I, the gold analyst, has the target price of gold to 3,000.
01:03 It is clear that it is a Saudi target for the purpose.
01:05 And the amount of money that must be allocated is always a big question.
01:09 I personally hope to get a little bit of relief,
01:11 which you can add to the specializations instead of speeding up.
01:14 But gold is still one of the principles without any return.
01:17 Therefore, it is part of the security of your safeguard.
01:20 Therefore, it depends on your aversion to risk.
01:23 If you are avoiding the risk severely,
01:25 you want the big security part of your safeguard.
01:28 You have more gold if you know.
01:30 And if you are less averse to risk,
01:33 you prefer to be more cautious about the shares.
01:35 And you don't have much to allocate to gold.
01:38 Therefore, it is a personal decision to the end.
01:40 But there must be some gold in your safeguard.
01:43 Yes, if so, it means that it is not our main issue.
01:47 Isn't that so?
01:48 Our main issue is in fact not to raise prices.
01:51 This is a big threat, including the sufficient amount for any production.
01:55 We believe in fact that the price of oil will remain around 90 dollars,
01:58 then it will actually decrease in the end.
02:00 Now, if we are wrong about that,
02:02 and we can be aware of the risk of increasing in a clear way,
02:05 yes, it will exceed 100 dollars.
02:07 And it will certainly be very positive for the oil producer, for sure.
02:11 But we don't have a specific target price,
02:13 because it is not our main issue really.
02:15 price target for you because it's not our base case really.