Terence Corcoran: Did Idris Elba's ‘Goldfather’ video boost gold prices?
Price of gold hitting records but likely more due to central bank stockpiling than film star's documentary
For several months a one-hour video starring charismatic film and television star Idris Elba has been heavily circulated via YouTube. Titled “Gold: A Journey with Idris Elba,” the documentary-style production never made it to the Oscars for obvious reasons. Funded by the World Gold Council, the production is a professionally-produced vehicle that clearly aims to portray the gold council’s corporate members — from Canada’s Agnico-Eagle and Barrick Resources to China’s Shandong Gold Group — as leaders of a wondrous industry producing a dazzling product that glitters around the world.
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It’s an interesting and controversial attempt by a global mining industry to boost its image and draw attention to gold’s political, social, economic and environmental impacts. Is it successful? Has the value of gold mine shares risen as a result?
The multi-talented Elba was once a contender for the role of James Bond, but his black heritage apparently stood in the way. So no Goldfinger remake for Elba; instead we will have to live with his role as Goldfather.
........© Financial Post
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