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Factual: Money

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Business Daily: Gold Standards

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08/08/2016 GMT

Gold Standards

BBC World Service - Business Daily, Gold Standards

Amid economic turmoil, the gold price is back up. Time for currencies to re-peg to gold?

Amidst uncertainty over Brexit, Chinese growth, and US politics, the gold price has surged by 30% this year. Is it time for currencies to be re-pegged to their gold reserves?

Today we're drilling down into the curious financial asset that is gold - a commodity of little or no industrial value at all, but with an enduringly important position within our financial system. Kwasi Kwarteng, an MP and author, wonders whether it's time a major global economy, like China for instance, might once again peg their currency to the precious metal, just as Britain, the US and others did during the last century. We also hear about the appeal of the gold markets in Dubai with a report from there. And Lucy Kellaway reflects on the underrated art of looking authoritative in boring business meetings.

(Picture: Visitors at the Dubai Gold Souk; Credit: Warren Little/Getty Images)

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