Volatility in the metal's market dragged prices lower.
The World Gold Council Mining News
"What I can say with full confidence, though, is that prices will rise—for producers and consumers alike—which is good for gold but a headwind for continued economic growth."
According to the industry body, negative interest-rate policies (or NIRP) for some of the world’s key central banks could change the way investors think about risk, benefitting the yellow metal.
Total bullion demand dropped 12% in the second quarter of the year, due in part to directionless prices, the WGC says.
The entity will be run by a new company to be established by gold producers and financial institutions.
Once again Asia drove demand, with China and India alone accounting for 54% of the total.
Despite the rosy picture painted by the industry body, official figures show that Turkey bullion imports more than halved last year.
The World Gold Council (WGC) and the Shanghai Gold Exchange (SGE) have signed memorandum of understanding on a comprehensive strategic gold cooperation agreement.
Somasundaram PR, Managing Director of the World Gold Council India, peels back the underlying weakness of India’s gold trade in an interview with MINING.com.
There are at least seven good reasons, says the World Gold Council.
The World Gold Council predicts that India will import 850 to 950 tonnes of gold this year.
Industry body sees demand rising as economic growth lifts consumers’ incomes.
As members pay per ounce of metal produced, both companies said they had to look at the cost-benefits of staying in the organization.
It dropped 21% in Q3, marking what several analysts consider a solid proof of the end of gold’s decade-long bull run.
Boosted mainly by China and india.
The strategy would be a more remedial answer for countries facing financial challenges than outright gold reserve sales, says the organization.
The World Gold Council predicts consumption of the precious metal should be steady this year, although unlikely to reach the high levels seen in the worst of the financial crisis.
The World Gold Council unveiled today the long-awaited “exposure draft” of the so-called conflict-free gold standard, which aims to crack down on gold tainted by conflict and human rights violations, such as the ongoing supply coming from the rebel forces in the Democratic Republic of Congo.
Gold is still the king of commodities when it comes its role as a diversifier and foundation asset in the portfolios of euro-based investors, says the new report "Gold as a strategic asset for European investors," commissioned by The World Gold Council (WGC).