Meet the analyst: Gold webinar

In the second of an exclusive series of joint webinars, Edison’s Neil Shah is joined by Lord Ashbourne to discuss findings from his recent thematic report, Why gold is hitting new highs.

This webinar delves into the report’s key findings.

Key themes discussed include:

• Fundamental monetary relationships establish a base value in the low $2,000s/oz.
• Striking parallels with the 1970s real interest rate cycle suggest early stages of a major rebasing.
• Unprecedented central bank buying provides structural support for 15 consecutive years.
• Average all-in sustaining costs at $1,400/oz versus spot price of c $2,700/oz.
• Gold equities historically outperform physical gold by two to five times in bull markets.

Panel members:

Lord Ashbourne – director of content, mining, Edison Group

Charlie graduated from the University of Oxford as a chemist, joining Cazenove in the early 1990s. After brief stints working in pharmaceuticals and oils he settled down as Cazenove’s mining analyst, spending three years in Johannesburg, among other places. He moved to T Hoare Canaccord in 1999 as a specialist mining salesman and also worked for two years as Cluff Mining’s mineral economist, responsible for global target asset valuations. In 2003 he moved to New York, where he developed and marketed a ‘black box’ model for valuing large-cap equities, before returning to join Edison in 2007. He has extensive media experience, having written for MoneyWeek, The Business, Shares, Investors Chronicle and The Evening Standard (among others), presented on LBC and been a guest on BBC One and BBC World.

Neil Shah – executive director, content & strategy, Edison Group

Neil has been at Edison for more than 20 years, leading the analyst teams as director of content & strategy and establishing the company as the leading issuer-sponsored research firm. He has also led Edison’s thought leadership on the equity research market. Neil is a qualified accountant (PwC) with nine years’ experience as an equities analyst at Goldman Sachs. As Goldman’s building and materials analyst in London, he was ranked second by both Institutional Investor and Reuters. He left Goldman Sachs to help set up the specialist trading hedge fund, Tusker Capital.