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GOLD: A Journey with Idris Elba

The World Gold Council (WGC) has just dropped a gem of a documentary, and it’s none other than “GOLD: A Journey with Idris Elba” – available now on YouTube. In this documentary, Idris travels across continents to unravel the rich and often untold story of gold, exploring its significant impact on humanity and the world we live in. What is it about gold that has people from all over the world so hooked? So, grab your popcorn (or maybe some gold foil-wrapped chocolates for the occasion) and get ready to be swept off your feet. This is a film that promises to shine a new light on one of our most treasured assets. You’re going to love every minute of it – we sure did!

World Gold Council outlook 2024

Gold had a strong 2023, defying expectations amid a high interest rate environment, and outperforming commodities, bonds and most stock markets. As we look forward to 2024, investors will likely see one of three scenarios. Market consensus anticipates a ‘soft landing’ in the US, which should also positively affect the global economy. Historically, soft landing environments have not been particularly attractive for gold, resulting in flat to slightly negative returns. That said, every cycle is different. This time around, heightened geopolitical tensions in a key election year for many major economies, combined with continued central bank buying could provide additional support for gold. Further, the likelihood of the Fed steering the US economy to a safe landing with interest rates above five percent is by no means certain. And a global recession is still on the cards. This should encourage many investors to hold effective hedges, such as gold, in their portfolios.   Article courtesy of World Gold Council

Recycling Gold: A New Trend Emerging Amid India’s Wedding Season

Gold, for Indians, transcends the tag of a mere precious metal. It is a symbol of affluence, an investment safety net, and a crucial part of cultural ceremonies. As the heart of the wedding season throbs, India witnesses a surge in demand for gold. However, the escalating gold prices are moulding consumer behaviour in a unique way. Instead of shying away from gold purchases, individuals are now exchanging their existing gold jewellery pieces for new ones. Surendra Mehta, National Secretary of the India Bullion and Jewelers Association, has noted this trend. He explained that while the interest in purchasing gold for weddings remains unabated, high prices are pushing customers to recycle their gold. This shift is likely to influence gold imports in the coming months, as the consumption pattern aligns with the economic pressures of high gold prices. The ongoing conflict between Russia and Ukraine is one of the significant factors driving up gold prices globally, including in India. Gold rate forecasts are critical for investors, given the fluctuating prices influenced by market changes, the quality of gold for investment, geopolitical and economic uncertainties, and the origins of gold production. Article courtesy of Dil Bar Irshad, BNN Breaking

How One Man’s Wealth Shook Egypt’s Economy

In the 14th century, a king embarked on a journey that would showcase wealth on a scale that the world had never seen. This king was none other than Mansa Musa, the ruler of the Mali Empire. His story is not just about wealth but about how the distribution of it can have unforeseen consequences. When Mansa Musa ascended to the throne of the Mali Empire in 1312, he took control of a realm that spanned a significant part of West Africa, boasting rich gold and salt mines. The region held some of the wealthiest and most productive gold mines anywhere in the ancient world. At the time, the region controlled by the Mali Empire produced nearly 2/3 of the world’s gold. As King, Mansa Musa had complete control over these mines which gave him unparalleled financial power. As a devout Muslim, Musa set off to Mecca for his Hajj pilgrimage – this wasn’t just a religious journey, it also gave him an opportunity to interact with leaders in nearby nations. Mansa Musa’s caravan was a display of wealth and power unlike any in history. His caravan stretched as far as the eye can see, with tens of thousands of soldiers, slaves, and heralds, all adorned in luxurious Persian silk and carrying golden staffs. He is believed to have travelled with 60,000 people, 12,000 slaves, and dozens of camels and horses carrying hundreds of pounds of gold. Musa used the legendary pilgrimage as a chance to flaunt the Mali Empire’s unmatched prosperity. And his extravagant display of wealth and generosity eventually came with unintended consequences. Mansa Musa’s generosity during his pilgrimage was unprecedented. In cities like Cairo, he gave away so much gold that he inadvertently devalued the precious metal in the region. Musa’s actions caused a price shock that took years to stabilise, serving as an early illustration of how a sudden influx of wealth into an economy can have unintended consequences. In modern terms, Mansa Musa’s fortune is estimated at around $400 billion, though it’s challenging to compare his wealth across different eras accurately. The Mali Empire’s gold mines produced about two-thirds of the world’s gold at the time – which was controlled entirely by Musa. Musa’s story continues to resonate even centuries later, offering insights into the potential unintended consequences of sudden influxes of wealth. It also shows the vast power that gold can offer you. Be like Mansa and take control of your finances. Become your own bank by owning real gold and silver. No matter where you go, no matter the century, or country, gold will always have value. Article courtesy of Brandon S, Gold and Silver