In this podcast, Edmund Shing, Global Chief Investment Officer and Philipp Gijsels, Chief Investment Strategist, discuss the recent correction in precious metals markets, with a particular focus on gold and its long‑term outlook.

• Precious metals prices have recently experienced a significant correction, reflecting changing market conditions.

• This correction has been driven mainly by higher interest rates, a stronger US dollar and investor profit‑taking.

• Such pullbacks are not unusual for gold during periods of market or geopolitical shocks and should be seen in a broader historical context.

• Looking ahead, the long‑term drivers for gold remain intact, supported by structural demand and its role as a hedge against inflation and macroeconomic uncertainty.

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