Gold fever

The story of gold: Why it’s valuable, how it shaped Australia, and how to invest today This week on the Friends With Money podcast, Money Magazine managing editor Vanessa Walker speaks with journalist Ryan Johnson about his April feature “The Story of Gold,” exploring why gold—an outer-space metal delivered by meteorites—became a durable, portable, and a widely accepted form of money. They discuss gold’s key advantages over other elements, how much exists (about 219,000 tonnes ever mined), and its role in Australia’s history from the 1851 gold rush through to the establishment of the Sydney and Perth mints and the Eureka Stockade. They explore how currencies were once pegged to gold, why the link ended during the depression and why central banks still buy gold, including the RBA’s 80 tonnes largely stored in London. 01:19 Why gold works 02:57 How much gold exists 03:35 Australia gold rush 05:01 Gold standard ends 06:21 Central Bank gold 07:53 Gold price outlook 09:00 Selling physical gold 10:41 Investing with ETFs Podcast Links: Listen on Apple Podcasts Listen on Spotify Money Website YouTube Podcast Playlist Email Us: podcast@moneymag.com.au Get stories like this in our newsletter: bit.ly/3GDirbR

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Gold fever is an episode from Friends With Money by Money Magazine.

This episode is 12:21 long.

This episode was published on Apr 7, 2026.

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