Debt, not war, is the real driver of gold prices, says World Gold Council’s David Tait

By Manisha Gupta – CNBC TV18

Global debt levels, rather than geopolitical tensions, remain the primary force shaping gold prices, according to World Gold Council’s CEO David Tait, who said recent market behaviour reinforces the metal’s long-term fundamentals.

Speaking to CNBC-TV18, Tait said the recent volatility in gold during the West Asia conflict should not be misread as a breakdown of its safe-haven role. “Gold reacts more to the absolute fundamentals underlying an economy than to short-term impacts such as tariffs or even wars,” he said.