# Weekend Edition: Gold - safe haven or speculative investment?

Page: https://stenobird.com/podcast/nab-morning-call-427359/weekend-edition-gold-safe-haven-or-speculative-investment
Text version: https://stenobird.com/podcast/nab-morning-call-427359/weekend-edition-gold-safe-haven-or-speculative-investment.md
Podcast: [NAB Morning Call](https://stenobird.com/podcast/nab-morning-call-427359)
Published: 2026-07-24T05:00:00+00:00
Episode link: https://shows.acast.com/morningcall/episodes/weekend-edition-gold-safe-haven-or-speculative-investment
Audio file: https://sphinx.acast.com/p/open/s/631a89913c2be9001415dc41/e/6a6292214fac21e67fcd6fe7/media.mp3
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JSON: https://stenobird.com/v1/public/podcasts/nab-morning-call-427359/episodes/weekend-edition-gold-safe-haven-or-speculative-investment
Duration seconds: 1732

## Resource

Friday 24th July 2026 Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here . As the Brent price climbs back into triple digits and the tensions in the Gulf show no sign of easing, what does that mean for the price of gold. Logic would have dictated that geopolitical unease would strengthen gold as investors look for an inflation-proof safe haven. Instead, the opposite has happened. Prices fell. Why? More significantly why had they risen so much in the last couple of years? And the question everyone has, does it hold steady or does it fall down with the same momentum that we saw fuel its meteoric rise? Phil asks John Reade all those questions. He is senior market strategist for the World Gold Council, who suggests the price is being driven less by geopolitics and more by government debt. Listen in for a fascinating half hour discussion about how the driving forces behind gold prices are changing. Hosted on Acast. See acast.com/privacy for more information.

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