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Commodity view: Edison on Gold

Commodity view: Edison on Gold

After a torrid two years for gold, there are several emerging trends of interest, which Charles Gibson, director of Edison’s mining team, discusses in this interview. Although the Fed has tapered its QE programme, less than a third of the dollars created have made their way into the real economy, and seepage of the remainder from the balance sheets of financial institutions could bring further inflation to the dollar and strengthen the gold price. The ECB has gone down the same route which supports our view. Charles also looks at what has happened to gold mining equity valuations in a preview of his next sector piece. With explorers trading on around 1% of the value of gold for every ounce they have discovered, a return to historical norms would see major re-ratings across what is now a much fitter segment than it was two years ago.

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