Worldwide Financial Planning

Today, with gold prices brushing record highs, many are asking the question again: should I own some? Or is it just an expensive ornament from a world which no longer exists?

Japanese stocks fell at the start of the week as a stronger yen affected some large exporters, however, the broad market recovered over the course of the week. Markets now see one or two additional rate hikes in 2026 following a widely expected hike this month and more aggressive rate hikes are something to be aware of.

For more than a decade, talk of "peak gold" has oozed itself out through analyst briefings and mining reports. It has never been an apocalypse story rather, more a long, dry fading - mines running leaner, new discoveries dwindling, the easy gold is gone.

Despite more volatility in technology stocks, poor economic news from the US and growing speculation that the Federal Reserve is becoming much more open to cutting interest rates meant investors had reasons to be grateful as the US celebrates its Thanksgiving holiday.

In 2025, Central banks emerged as the world’s most consistent gold buyers, purchasing over 1,000 tonnes per year since 2022. According to the World Gold Council, 2024 alone saw a record 1,045 tonnes added to official reserves. This isn’t about profit. It is about sovereignty, which I explained in my recent long series on the ‘end of the dollar’.

Weakness in US and global tech stocks had been weighing on equity markets around the world as investors worry about whether the astonishing amount of investment in artificial intelligence, and the infrastructure needed to support its growth, will pay off.