Read the lesson in English  
then translate to your own language to verify your understanding.

Some Central Banks Are Stockpiling Gold | English Lesson

Dec 6, 2022

In this lesson, you’ll hear words related to gold, and gold reserves. And, at the end of the podcast, I’ll share the correct pronunciation of some keywords in English. There will also be a chance for you to win a free English course, so stay tuned to hear this week’s episode of English for Economists.

Hello, friends from all over the world. This is podcast number 59. I am glad you could join me.

Listen to this headline that was published on December 1st, 2022 in the Economist magazine.

Why central banks are stockpiling gold.

Well, to ‘stockpile’ something means to accumulate a stock of that item. Possibly to hold as a reserve. To stockpile, in this case, gold.

So some central banks have begun to accumulate gold. To stockpile gold.

Why you might ask?

Well,  according to the article, there are two reasons that explain this new behavior.

The subheading of the title reads “The metal offers a hedge against inflation”. Well, that is one reason.  Some central banks are moving out of treasury bills and into gold because the rise in the FED’s reference rate has pushed bond yields up, making them less attractive as a holding.  Gold becomes a “hedge” against this risk. A kind of protection against this risk. In this case, it also becomes something of a replacement.

Now listen to the complete subheading:

The metal offers a hedge against inflation –– and a way to circumvent sanctions.

Circumvent sanctions? Well, ‘circumvent’ is to get around sanctions. To avoid the sanctions. To circumvent.

The metal offers a hedge against inflation –– and a way to circumvent sanctions.

The article suggests that gold isn’t as easily tracked as other alternatives,  and gold offers buyers and sellers more in the way of anonymity, which makes it easier to avoid – to circumvent — any imposed restriction.

Listen to the headline and subheading one last time.

Why central banks are stockpiling gold

The metal offers a hedge against inflation—and a way to circumvent sanctions

Okay, I wanted to try something new on today’s podcast and offer you a little more than just new vocabulary taken from headlines.  As an English teacher, I find that students often mispronounce the same keywords. That word is just trickier to say than others. Sometimes, these words can be crucial to the meaning of your sentence, so being clear and understandable is key.

For the next few podcasts, I’ll cover five of these words so you can make sure you are pronouncing them correctly.

Listen closely.

  • Financial
  • Variable
  • Structural
  • Barrier
  • Cement


That’s all for now. It’s been fun. If today’s lesson interested you, you might want to check out our lessons on Central Banks Raising Policy Rates and Economic Sanctions and Their Effect on Currencies for more banking vocabulary. Subscribe to this podcast if you haven’t done so already. I’ll be back soon with another lesson. Take care.


Image credit: CC license: Stevebidmead


Join Our Podcast Club

You Can Also Subscribe to Our Podcast On These Platforms:

Follow us on spotify
Apple Podcast


Submit a Comment

Your email address will not be published. Required fields are marked *

Latest Podcasts

The 996 Culture

The 996 Culture

What is the 996 culture? This refers to a work schedule that has been making waves in the tech industry, particularly in China. Yes, the "996" culture. It’s a practice that's been both supported and criticized for its impact on employees and companies alike. But...

Shrinkflation, Skimpflation and the ‘Sheconomy’

Shrinkflation, Skimpflation and the ‘Sheconomy’

Hello, friends. It’s great to be back. Having been away for quite some time, I've prepared a special episode for you. Today, we're not just covering one but two headlines. As we look at these stories, I'll introduce you to some fascinating terms that describe very...

‘White Swan’ and ‘Black Swan’ Events

‘White Swan’ and ‘Black Swan’ Events

Today, we're exploring a fascinating topic that has attracted a lot of attention in financial circles: the concept of Black Swan and White Swan events. Our discussion and English class today was inspired by a recent Bloomberg article from January 30th titled, "A...

‘Steel Yourself’ for a Potential Trade War

‘Steel Yourself’ for a Potential Trade War

Our lesson today is based on an article from The Economist Magazine, published on January 9th, titled "Xi Jinping risks setting off another trade war." Listen again, "Xi Jinping risks setting off another trade war."...

Predictions 2024: Dollar Bears, Bond Bulls, and Steady Stocks

Predictions 2024: Dollar Bears, Bond Bulls, and Steady Stocks

The source for today’s lesson is an article taken from Bloomberg News, titled “Five Things You Need to Know to Start Your Year”. The article makes several predictions about markets in 2024. They say that there will be “Dollar Bears” “Bond Bulls” and “Steady Stocks”....