With gold at record highs, what’s driving the price and is there more to go? IGTV caught up with John Meyer from SP Angel who discusses the concerns that the Chinese authorities have about their economy. This suggests that there is yet more upside to come as the Chinese state is buying gold to avoid reliance on the US dollar.

Russia is also a big buyer of gold, but Meyer agrees that this is a bit of a sideshow compared to the Chinese position. The discussion also covered the point that investors in gold companies are making with the relative underperformance of gold producers, John Meyer says that this gap will close when investors are happy that the rise in gold is here to stay. The conversation also looked at the price of copper, another China story according to Meyer who says that the Chinese state holds a similar view on copper that it does on gold, as a safe haven bet on the future.

Subscribe ► https://www.youtube.com/IGUnitedKingd...
Learn how to trade with IG: https://upl.inc/theworldofig

We provide fast and flexible access to over 17,000 financial markets – including indices, shares, forex and commodities – through our awardwinning range of platforms and apps.

Established in 1974 as the world’s first financial spread betting firm, we’re the world’s No.1 provider of CFDs and spread betting* and a global leader in forex. We also offer an executiononly share dealing service in the UK, Ireland, Germany, Austria and the Netherlands.

Our range of affordable, fully managed investment portfolios rounds out our comprehensive offering to investors and active traders. Through our low fees and smart pricesourcing technology, we help traders keep their costs down.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider†. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit.

* Based on revenue excluding FX (published financial statements, February 2023).
† For the 12 months preceding 1 July 2023.