- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
At the recent Canadian Investor Conference, held in Vancouver from June 1 to 2, the Investing News Network spoke with Dundee Capital Markets’ Martin Murenbeeld about gold, China and the US economy.
At the recent Canadian Investor Conference, held in Vancouver from June 1 to 2, the Investing News Network spoke with Dundee Capital Markets’ Martin Murenbeeld about gold, China and the US economy.
In the video interview below, Murenbeeld touches on gold’s recent price action and why the yellow metal is faring so poorly. “The big issue with gold that is keeping the price down is that there is very limited investment demand,” Murenbeeld states, adding, “where there is investment demand is the equity markets, which is a bit of a competition for the investor dollar.”
Murenbeeld also comments on a remark by Ned Goodman regarding China’s interest in buying gold as a substitute for the US dollar in its central reserves.
He explains, “we have indirect evidence that China is hoarding more and more gold at the official level. China is interested in diversifying away from the US dollar, as are many other countries. Russia has been buying gold on a consistent basis, almost every month for the last five years. They also would like to reduce the percentage of US dollar holdings in their central reserves. There are many reasons for that, but most of them have to do with geopolitics. But also, deep down I think the central bankers are concerned that the US dollar will continue to decline further, and that would mean that the purchasing power of their reserves would decline. They would like to stabilize that power.”
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Related reading:
PDAC: Is China Buying Gold to Eliminate US Dollar as World Reserve Currency?
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â