Friends With Money #250: Gold fever

This week on the Friends With Money podcast, Money magazine managing editor Vanessa Walker speaks with journalist Ryan Johnson on the story of gold, exploring why gold - an outer-space metal delivered by meteorites - became a durable, portable, and widely accepted form of money.

They discuss gold's key advantages over other elements, how much exists (about 219,000 tonnes ever mined), and its role in Australia's history from the 1851 gold rush through to the establishment of the Sydney and Perth mints and the Eureka Stockade.

They explore how currencies were once pegged to gold, why the link ended during the depression and why central banks still buy gold, including the RBA's 80 tonnes largely stored in London.

Episode timestamps

01:19 Why gold works

02:57 How much gold exists

03:35 Australia gold rush

05:01 Gold standard ends

06:21 Central Bank gold

07:53 Gold price outlook

09:00 Selling physical gold

10:41 Investing with ETFs

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What is the Friends With Money podcast?

Friends With Money is a weekly personal finance podcast by Money magazine, offering expert insights on investing, budgeting, superannuation, property, and other money strategies for everyday Australians.

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You can listen on Apple Podcasts, Spotify, or YouTube (with closed captions available).

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Episodes are hosted by Vanessa Walker and Tom Watson from Money magazine, featuring expert guests and real conversations about money.

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Yes! It's designed to be accessible for beginners while still offering valuable insights for seasoned investors.

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The Friends With Money podcast covers topics including banking, property, budgeting, superannuation, investing, saving, insurance, employment, travel and more.

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New episodes are released weekly, so you can stay up to date with the latest financial tips and trends.

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Yes, full episodes with closed captions are available on YouTube.

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Each episode dives into real conversations about money - how it's earned, shared, saved, and grown - with tips and insights that make finance simple and relatable. Perfect for beginners and seasoned investors alike, it's your go-to guide for building better financial habits.

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