All that glitters: the new gold rush

Investors and central banks can’t get enough of gold. The precious metal’s price has climbed by 38% over the past year to over $2,700 per troy ounce—a record high. But gold pays no dividends, generates no yield and its value has very little to do with demand for jewellery, in which it is commonly used. So what’s behind the surging price of gold? Hosts: Mike Bird, Alice Fulwood and Tom Lee-Devlin. Guests: Gregor Gregersen, founder of The Reserve, a gold vault in Singapore; Shaokai Fan of the World Gold Council; and economic historian Nicholas Mulder. Transcripts of our podcasts are available via economist.com/podcasts. Listen to what matters most, from global politics and business to science and technology—subscribe to Economist Podcasts+. For more information about how to access Economist Podcasts+, please visit our FAQs page or watch our video explaining how to link your account.