As global geopolitical relations become increasingly intense and complex, investors are seeking uncorrelated assets to enhance portfolio resilience. Since the Great Financial Crisis, central banks—particularly those in emerging markets—have been net buyers of gold to diversify away from USD-denominated assets. This trend has accelerated over the past three years, especially following sanctions on Russia. Gold has arguably benefited from these two major trends, as evidenced by its price performance.

However, gold remains a challenging asset class for investors to value due to its lack of income and the absence of a comparable commodity for reference. With gold prices reaching new heights—40 all-time highs in 2024 and 22 so far* in 2025—is gold still a buy?

This event offered a deep dive into this question with Johan, Senior Quantitative Analyst at the World Gold Council and principal author of a key research paper on gold’s long-term expected returns. Johan shared valuable insights into the main factors influencing gold prices in 2025 and presented a reasoned framework for evaluating gold as an investment. He was joined by Robin Tsui, APAC Gold Strategist at SSGA, who played a pivotal role in expanding the presence of SPDR Gold ETFs in the APAC region through research, education, strategic positioning, and client outreach.

(* As of 15 April 2025)

Event Details
Date: Thursday, 15 May 2025
Time: 12:30pm – 2:00PM (Registration starts at 12:00pm, light lunch is provided)
Location: PwC Singapore, 7 Straits View, Marina One East Tower (Level 12), Singapore 0189361

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