Gold analyst George Milling-Stanley says the precious metal is not just a hedge against inflation but also against the unexpected like the coronavirus.
by Bob Pisani
George Milling-Stanley has sometimes been referred to as the “Godfather” of the gold business.
While at the World Gold Council, he was among a small group that helped create the SPDR Gold Trust (GLD) in 2004, now the world’s largest gold exchange-traded fund with over $50 billion in assets. He is now chief gold strategist at State Street Global Advisors. This interview has been edited.
Gold is a commodity that is physically moved all over the world. How is the coronavirus impacting gold supply?
We are seeing an impact on the supply side. Three of the biggest refineries in the world are in Switzerland on the border with Italy.