Ned Naylor-Leyland Talks To Alasdair Macleod About Europe and, Increasing Demand for Allocated Gold

from GoldMoneyNews

Subscribe to our newsletter at GoldMoney’s Alasdair Macleod talks to Ned Naylor-Leyland of Cheviot Asset Management about Europe’s debt crisis, the euro, and gold and silver price prospects. He also discusses the Pan-Asia Gold Exchange, and how an increasing number of investors are demanding allocated gold.

Ned is slightly more optimistic about the euro than most analysts, owing to what he sees as the high likelihood of further successful moves towards fiscal union. He also thinks the large gold reserves held by the European Central Bank as well as the largest member states (Germany, France and Italy) are a plus for the currency.

Regarding the Pan-Asia Gold Exchange that he talked about at last summer’s GATA conference in London, Ned notes that internal Chinese political wrangling appears to have blocked the introduction of an international fully-allocated spot gold contract. However, an equivalent silver contract is going to start trading within the next few months, which could have bullish consequences for silver.

Alasdair and Ned also discuss proposals to make gold bullion a Tier-1 bank asset. They state that this is further evidence that gold is once again regaining a formal role within the financial system — good news for both gold investors and the banks themselves.

This podcast was recorded on 20 July 2012.

1 Response

  1. Capal says:

    Ned needs to verify his viewpoints on the PAGE. I spent few hours making the double checks on these points. The PAGE website is still running. The PAGE are recruting staffs, more than 75 personnel for 27 positions in additional to the current staffs, on two human resource websites identically, since July 6. The webpage ” ” shows one of the 27 position in specification. Ned can find out all specifications of the 75 jobs if he can read Chinese fonts. I am not aware of the real situation of the PAGE is. But I read about a new guideline released recently by the Chinese Government on the commodities tradings during last weekend, including the gold trading item, posted probably last Friday, on the Xinhua Website. It could mean new trading center to be available soon, PAGE? I am not sure. The silver contract mentioned by Ned seems to be a brand new trading center, located far far away from the PAGE geologically, look like near the Tibet border in Sichuan Province. I don’t think they, PAGE and the silver one, are identical. I am afraid Ned might be misled by his sources. I suspect the PAGE is still surviving. Sometime we can not assume what Chinese are thinking in normal.