Gold fever
The story of gold: Why it’s valuable, how it shaped Australia, and how to invest today
This week on the Friends With Money podcast, Money Magazine managing editor Vanessa Walker speaks with journalist Ryan Johnson about his April feature “The Story of Gold,” exploring why gold—an outer-space metal delivered by meteorites—became a durable, portable, and a widely accepted form of money.
They discuss gold’s key advantages over other elements, how much exists (about 219,000 tonnes ever mined), and its role in Australia’s history from the 1851 gold rush through to the establishment of the Sydney and Perth mints and the Eureka Stockade.
They explore how currencies were once pegged to gold, why the link ended during the depression and why central banks still buy gold, including the RBA’s 80 tonnes largely stored in London.
01:19 Why gold works
02:57 How much gold exists
03:35 Australia gold rush
05:01 Gold standard ends
06:21 Central Bank gold
07:53 Gold price outlook
09:00 Selling physical gold
10:41 Investing with ETFs
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Email Us: podcast@moneymag.com.au
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