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In addition to U.S. economic uncertainty driving gold, what are other international factors that contribute to the growing demand for gold?

Bob Wiedemer


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Video Transcript

A country like China has its own uncertainty, domestic and international. A country like India has its own uncertainty, domestically and internationally. Meaning, domestically they may be banning all past cash. You have to turn it in, as they did, and get new notes. Or China has its own scandals, and problems, and debts, and so forth, that brings up uncertainty and believe me, people do see that. So, when they do, just like in the U.S., they do tend to go for gold, even more than in the U.S., because in countries like China, the biggest gold consumers, they have for a long time looked to gold as safety when the government is not doing well or their financial institutions are not doing well. So, when I talk about uncertainty, it is about the U.S., but let's be clear, there is uncertainty growing in these other countries as well and that's also driving an international demand for gold that clearly pushes the price up. So, maybe at some point, maybe I should do an Uncertainty Index for China and India, but let's just be aware that those are two other countries whose uncertainty is very likely to rise over the next few years as well.