Australian Investors Podcast Why gold still shines: Roscoe Widdup on the cycle, central banks and picking miners
Aug 27, 2025
Roscoe Widdup, a former Goldman Sachs mining analyst and founder of 888 Capital, shares his insights on the gold market, emphasizing why a specialized gold fund is essential in today's investment landscape. He discusses the critical demand drivers from central banks and ETFs, and how supply responses affect pricing. Roscoe provides a practical checklist for evaluating gold miners, covering aspects like asset quality and jurisdiction. His bullish perspective on gold highlights its enduring role as a store of wealth and the cyclical nature of the market.
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Episode notes
Insist On Balance Sheet And ESG Strength
- Require strong balance sheets and responsible ESG practices before investing in a miner.
- Seek companies that can self-fund, treat communities well, and follow World Gold Council standards.
Use Three-Lens Risk Assessment
- Combine bottom-up fundamentals, ESG risk assessment, and quantitative checks in risk analysis.
- Score companies across these three lenses to identify attractive, high-quality miners.
Management Must Understand The Cycle
- Management engagement focuses on cycle view, multi-year plans and actions if gold jumps.
- Timing strategy and profit-margin behaviour under rising gold are key due diligence topics.