In this episode of Relative Return, host Maja Garaca Djurdjevic chats with Robin Tsui, APAC gold strategist at State Street Global Advisors, to discuss gold's role as a diversifier in portfolios. Listen as they discuss:

• The recent performance of gold.
• Factors driving increased gold demand
• The effect of geopolitical risk.
• Why market risk makes diversification important?
• How gold can be accessed in portfolios.

[Disclosure]

Timestamp references

1:55 - Source: State Street Global Advisors, Bloomberg Finance L.P. 11:10-12:00 – Source: State Street Global Advisors, World Gold Council

State Street Global Advisors, Australia, Limited (AFSL Number 238276, ABN 42 003 914 225) ("SSGA Australia"). Registered office: Level 14, 420 George Street, Sydney, NSW 2000, Australia · Telephone: +612 9240-7600 · Web: ssga.com. Investing involves risk including the risk of loss of principal. Diversification does not ensure a profit or guarantee against loss. Commodities investing entail significant risk as commodity prices can be extremely volatile due to wide range of factors. A few such factors include overall market movements, real or perceived inflationary trends, commodity index volatility, international, economic and political changes, change in interest and currency exchange rates. Past performance is not a reliable indicator of future performance. Assets may be considered "safe havens" based on investor perception that an asset's value will hold steady or climb even as the value of other investments drops during times of economic stress. Perceived safe-haven assets are not guaranteed to maintain value at any time. This material is general information only and does not take into account your individual objectives, financial situation or needs and you should consider whether it is appropriate for you. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. The views expressed in this material are the views of Robin Tsui through the period ended 17 July 2024 and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA Australia's express written consent.