By Nomi Prins, Editor, Inside Wall Street with Nomi Prins
Today, I’m coming to you from Melbourne, Australia.
I’m here for a few weeks, meeting with industry leaders, mining insiders, and policymakers.
And while in Melbourne, I met with my brilliant friend Shae Russell, who represents a commodities company focused on mining trends.
Together with her colleague, my other friend Daniel Ryan, they’re a dynamic duo with loads of work, resource connections, and insights into not just Australia… but the entire region and beyond.
And given the chaotic market environment we’re experiencing now, along with the recent banking crisis, investors are turning to the centuries-old safe haven asset: gold.
So I asked the commodities experts, Shae and Dan, “Why gold, and why now?”
To find out why they see it as a perfect savings vehicle, and how you can take advantage of gold’s shining moment, check out this special video update.
Click on the image below to watch it, or scroll down to read the transcript.
Regards,
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Nomi Prins
Editor, Inside Wall Street with Nomi Prins
TRANSCRIPT
Hi, everyone. Nomi here and greetings from the vibrant city of Melbourne, Australia.
Melbourne is the second most populated city in the country, and it rests near the southeast corner of Australia, right in the state of Victoria.
And right now, I’m coming to you from the center of the city near its super sleek Federation Square development.
This area has tons of offices and plazas and bars and restaurants all running up and down the Yarra River here behind me.
The city is bustling.
It’s a metropolis filled with businesses, and it drives nearly a quarter of Australia’s economic activity.
It has the Australian head office of Rio Tinto here. The National Australia Bank is headquartered here, plus Afterpay and Newcrest Mining and just so many more.
So today, I met with two amazing insiders that I’m also proud to call my good friends.
And fortunately for us, they’re also very well connected within the mining industry and the financial sector here.
You see, mining contributes to over $13 billion in the state of Victoria and creates more than 121,000 jobs here. For the Australian markets overall, Melbourne-based firms in particular accounted for about 65% of the Australian Stock Exchange’s 100 mining stocks.
This region overall is known for producing gold, antimony – which is used in the production of semiconductors – and brown coal, and so much more.
And today it’s home to major mining companies that are just innovating and leveraging the equipment and the tech sector as well in their processes.
What all that means is that Melbourne is a city on the moon. And as global demand for natural resources and rare earth minerals and precious metals booms, it also means that the world is going to turn more and more to Melbourne. Because this city has a big seat at a powerful table, and it is well worth watching.
Specifically, my friend, insider and all-around brilliant mind Shae Russell, is someone that you all should know.
Currently Shae represents a company called Rock Solid Investing.
Great name, right?
It is a phenomenal commodities company that spots mining trends before they happen. And I asked her, “Why gold? Why now?” And here’s what she told me.
“I buy more gold than I know what to do with. I buy for my own investment without even thinking about it. And I make my kids buy it with their pocket money because I see gold as a perfect savings vehicle. Especially now. Because when currencies are volatile, gold tends to outperform every time.”
Together with her colleague, my other friend Daniel Ryan, they’re a dynamic duo with loads of work, resource connections, and insights into not just Australia but the entire region and beyond.
And I asked Daniel, “Why gold? Why now?” And here’s what he told me.
“Gold and silver built this country.” Gold transformed Australia’s fortune to transform the country from a farming-centric economy to what he calls a “global gold-tropolis” with the largest reserves in the world.
“And as markets tank, gold remains a form of generational wealth that I hope to be able to give to my children, my nieces and nephews, and just to set them on a stable investing path for their futures.”
And this is from a guy who has worked in the gold industry since he was 17 years old, and his family has been entrenched in the industry since they arrived from Ireland in the early 1900s.
So, yes, Shae and Dan focus on gold. That’s because gold is both a consumer good and an investible asset. But they’ve got a portfolio of knowledge that goes well beyond that.
Meanwhile, to take advantage of gold’s shining moment – in another words, an otherwise chaotic financial and monetary policy environment, exacerbated by The Great Distortion between financial markets and the real economy – consider investing in gold through the ETF, GLD.
Happy investing, and I will talk to you soon.