Friday Finance

Group "Club Finance"

Is gold still a safe haven?

Please note that this breakfast will take place on a THURSDAY. While most commodity prices have plummeted by over 60% since their July 2008 highs, gold continues to post impressive performances. Faced with the prospect of a collapse in the value of major currencies and the temptation to monetize private or public debt, the yellow metal appears to some as a safe haven. Nevertheless, the memory of the bursting of the 80s bubble is still present... And the recent interest of large hedge funds in these investments adds a speculative effect, which could suggest the onset of a new bubble. What about the physical gold market? What are the production capacities? How can we understand the divergent trends in the price of physical gold and the value of mining companies and gold mines? What is the outlook for the precious metal? What are its links with the dollar and oil prices? What is the long-term value of this very special asset, whose only quality seems to be its scarcity? Jean Philippe Roos, analyst and fund manager specializing in gold and commodities, will shed light on the characteristics of this highly specific market. Combining technical, macroeconomic and fundamental analyses, he will share his vision of the precious metal's potential in the context of a secular crisis, backed by over 30 years' experience of these markets.