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Single US Idea Today. Thank you to Apple for rolling this out. We're really thrilled with the initial effort of It's a six or seven minute look at two of our guests today today, we could have done like ten different guests. I thought Linda Dousl of Federators, mess Rising, Greg Peters clipping coupons over at p JIM is just a really, really solid show. We're going to do Javier Blast. We have I mean, come on, folks, we have the surveillance extra virgin correspondent. We're going to go to that
in a moment. You gotta do Javier Blast the success of his book in oil. We're going to talk about a different oil. But first and what happens is we have people that we can book like in a moment's notice. We have people that save us when somebody has to cancel, there's an emergency, whatever. We've got people that you know, you send out an email do you want to be on Bubba Bah? They go yeah, sure. And then we've got people that are so crazy busy it's like a
three day, five day ordeal to get him on. One of those is James Steele. He is at HSBC. You know Max Kettner, Steve Major over in Hong Kong. James Steele is an absolute institution in gold. About more than just where's it going up down sideways? About the culture, the fabric. Are they buying gold in Dubai? What kind of gold are they buying? How does jewelry play in etc. And so for days we've tried to get James Steele on with gold moving up, getting near twenty four hundred
dollars an ounce. And of course every analysis, every article has to begin with China. Here is James Steele on China's buying of gold.
It's a default play. In the case of China specifically, the property markets have been very weak, the equity markets have been very weak, and this narrows the universe that investors, you know, big and small, are likely to look for, and gold is a great safe haven. Now we're seeing the same thing abroad, but the equity and property markets
haven't fallen abroad. And in the case of Western markets, I think what we've seen is asset managers, portfolio managers and the like have recognized that equities are very high. They have no choice in many cases, but to be in the equity markets, but they have a choice about how they hedge.
James Steel there of HSBC really informative conversation. Look for that the entire conversation Bloomberg podcast. What's important here is how we treat commodities. They're an odd duck. They've always been in our heritages to talk to Global Wall Street about it. Francisco Blanche, Bank of America, Jeff Curry, ex Gulb and Sex moving on from City Group to Hallmark. But the bottom line is we're always trying to talk to interesting people. And some can be like gold, what's
it gonna do? And others can be saying ConA Hake at ed and f who was on the other day, And ConA Hake is encyclopedic about the softs like cocoa and that. So that's how we're approaching commodities here. Haven't talked much about copper. Eric, we gotta we gotta do copper. We mean, doctor copper, we gotta we do that as well. And so it's interesting here that we tackle the commodities. Sometimes a commodity is thrown at us. I almost slipped when Jave Blass said to me, Tom oil and I said,
of course, Brent West Texas. He said no. He said, the moonshot which you've seen in Aisle seven at your grocery store, which is olive oil. Jave Bloss has been lights out about this, and of course it's hilarious about his election that you can only have Spanish olive oil. I have no idea the differences, but actually read about it, and I guess there's some justification to it. Here is a surveillance extra version correspondent, the giant of hydrocarbons, Javier blasts and Spanish olive oil demand.
Olive oil from a space is always going to be booming is excellent. I'm a bit biased, but it is excellent. Our prices, yes, couldn't used for connoisterers of olive oil that enjoy not only the Spanish one, but Portuguese, Italian and other origins. Prices that are starting to calm down. Has been raining quite of southern Europe. The expectation is that the next club would be better. So prices are Wholesale prices are down twenty percent since the peak in January.
We have get to see these translated into retail prices, but it will come.
We try to be polite there. What happens afterwards Pharaoh got upset? Is it goes after Italian olive oil. I have no idea, Folks, if you want to email me, in it out on YouTube live chat, explain to me which olive oil you prefer. One day we had a bottle of morocc At olive oil. I couldn't. I just couldn't tell the difference. That's all there is to it. It is single best idea. Two conversations that we have
on Bloomberg Surveillance every day. The show The Arc of the Morning on New York Wall Street from seven am to ten am, Tom Keene and Paul Sweeney with great help from Lisa Matteo and Michael Barr, as well a cast of thousands Eric Mallow, producing our brilliant podcast Here don't forget. We're out on Apple car Play, We're out on YouTube. Bloomberg podcast is how you start to go to YouTube and now I guess there's a my ugly face Sweeney, you know, and Sweeney looks out of you know.
He could be in the next James Bond movie. Is like the business guy for Bond. Michael Barr is Michael Barr and Lisa just looks lovely. So our faces are out there now, which makes it better. You can tune in there and also program note I'm gasping here because they need some olive oil. Program note Bloomberg Originals. This is a new distribution and it's out on Apple TV, Samsung TV, and Fire TV. So look for us on Apple carput on YouTube, and a Bloomberg Originals. Good morning,