Reporter Reads - Gold is booming - but how safe is it for investors, really? - BBC Sounds
Our international business correspondent has been looking into the price of gold.
www.bbc.co.uk
Released On: 13 May 2025 ....... Available for over a year
*ingot: 주괴 (특히 금, 은을 벽돌 모양으로 만든 덩이)
Helped by its relative rarity, gold has been seen as an intrinsic store of value for centuries. The global supply is limited. Only around 216,265 tonnes have ever been mined, according to the World Gold Council, (the total is currently increasing by about 3,500 tonnes per year). This means that it is widely perceived as a "safe haven" asset that will retain its value.
*intrinsic: 고유한, 본질적인
*as an intrinsic store of value: 고유의 가치 저장(수단)으로서
*mine: 채굴하다, 캐다; 광산, 갱
*as a "safe haven" asset: 자산의 안전한 피난처로서
As an investment, however, it has both advantages and disadvantages.
Unlike shares, it will never pay a dividend. Unlike bonds, it will not provide a steady, predictable income, and its industrial applications are relatively limited.
*Unlike shares, it will never pay a dividend: 주식과 달리, 금은 결코 배당금을 지급하지 않을 것이다.
*Unlike bonds, it will not provide a steady, predictable income: 채권과 달리, 금은 지속적이고 예측이 가능한 수입을 제공하지 않을 것이다.
The draw, however, is that it is a physical product that exists outside of the banking system. It is also used as an insurance policy against inflation: while currencies tend to lose value over time, gold does not.
*draw: 무승부, 비기기
"Gold can't be printed by central banks, and it can't be conjured out of thin air," says Russ Mould, investment director at stockbroker AJ Bell. "In recent times, a big policy response from authorities when there's been a crisis has been: slash interest rates, boost money supply, quantitative easing, print money. Gold is seen as a haven from that, and therefore a store of value."
*investment director: 투자 책임자, 투자 담당 이사
*slash interest rates, boost money supply, quantitative easing, print money: 이자 삭감, 통화량 증가, 양적 완화, 화폐 발행
*haven: 피난처
There has recently been a significant rise in demand for gold from so-called Exchange Traded Funds, investment vehicles that hold an asset such as gold themselves, while investors can buy and sell shares in the fund.
*Exchange Traded Fund: 상장 지수 펀드
*investment vehicle: 투자 대상 (mutual fund, bond, stock 등)
They are popular with large institutional investors – and their actions have helped to push up the price.
*push up the price: 가격을 밀어올리다
When gold hit its previous record in January 1980, the Soviet Union had just invaded Afghanistan. Oil prices were surging, driving up inflation in developed economies, and investors were looking to protect their wealth. The price also rose sharply in the aftermath of the global financial crisis, leading to another peak in 2011.
*gold hit its previous record: 금(값)이 이전 기록에 도달했다
*developed economies: 선진국 경제
*the global financial crisis: 글로벌 금융 위기
*aftermath: 여파, 후유증
The recent increases appear to owe a great deal to the way markets have responded to the confusion triggered by the Trump administration.
*최근의 상승은 상당 부분이 트럼프 행정부가 야기한 혼란에 시장이 반응하는 방식 탓으로 보인다.
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