A selection of Marina's published articles

These articles have been published in the Economist, Standpoint Magazine, Financial Times, MoneyWeek, the Times Literary Supplement, New York Observer and more

Money Observer: On gold

midas

In Greek mythology, King Midas famously craved the ability to turn everything he touched into gold. At first he was delighted to turn a twig into gold, but once he realised his family and even his food would turn into the metal too, he understood that gold should never be the first priority.

Many financial experts recommend buying gold as a hedge against falls in other markets, but most say it shouldn’t make up more than 10 per cent of your investments, not least because it doesn’t produce income. Gold is rare – all the gold mined in the world would fit into two Olympic-sized swimming pools – and that’s what makes it valuable, especially in times of uncertainty.

When Donald Trump gave his first postelection press conference – amid stories of his golden showers – the gold price rose to above $1,200 an ounce for the first time in two months. So if you think Trump will start a trade war with China or that Marine Le Pen is going to win the forthcoming presidential election in France, go for gold. It did well in 2016. Interestingly, silver performed even better, thanks to its industrial applications.

It is fair to say that as long as the world’s population continues to grow – and it does so by 200,000 people a day – demand for all commodities, including metals, will continue to grow. Unlike other commodities, gold was used as money for centuries before the arrival of paper money. While paper currency is on its way out, gold remains what it always has been. And as long as central banks buy it for their reserves or put more money into economies through quantitative easing, gold will retain its shine. But the gold price can fall as quickly as it can rise. I prefer to wear gold, in necklace form, and invest in something boring instead.

This article was published as part of the Marina’s Imaginary Millions column in Money Observer, February 2017.

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This entry was posted on February 2, 2017 by in Finance, Marina's Imaginary Millions.

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In a crowded London shop
An open book and empty cup 

On the marble table-top.
While on the shop and street I gazed

My body of a sudden blazed;
And twenty minutes more or less It seemed, so great my happiness,

That I was blessed and could bless.

- Yeats

Always to shine,
to shine everywhere,
to the very deeps of the last days,
to shine—
and to hell with everything else!
That is my motto—
and the sun’s!

- Mayakovsky

Can it pull extraordinary faces?
Is it usually sick on a swing?
Does it spend all its time at the races,
or fiddling with pieces of string?
Has it views of its own about money?
Does it think patriotism enough?
Are its stories vulgar but funny?
O tell me the truth about love.

- WH Auden

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