According to Cross, some 4 000t of central-bank gold has been placed on deposit, lent against forward sales of gold. One year and nine months of future gold production has been sold forward, double the amount of three years ago. JP Morgan's precious metals strategist Kevin Crisp concluded that gold is heavily exposed to currency movements in both developed and developing countries, and gold will continue to evolve towards commodity status. Da Vanzo joined the gold industry two years ago and at present is batting for African gold. The industry is based on cookie-cutter repetition, designs are limited, the range is very narrow.
Gold needs an image makeover.
We need to revamp gold, contemporise it and make it more relevant to consumers.