The world’s second-largest economy expanded its gold reserves for the fourth straight month, adding to optimism that central banks globally will continue to build holdings.
World Gold Council Mining News
A more dovish stance by the Fed, coupled with the ongoing trade talks between the US and China, could also contribute to a slowdown in US dollar appreciation, which could add to gold's momentum.
But global gold-backed ETF flows remain positive on the year ($1.7 billion) on the back of strong inflows in January.
Bitcoin was designed to mimic gold, but it has still to prove its moneyness.
Russia, Turkey and Kazakhstan remained key buyers throughout the year.
In December alone, gold-backed ETFs globally rose 3 percent, adding 76 tonnes worth $3.1 billion.
Tait will take over in February from Aram Shishmanian, the council's CEO for the last decade.
The World Gold Council found that gold demand reached 964.3 tonnes in Q3.
Toronto-based Barrick announced it would purchase Randgold for a spectacular $6 billion.
"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."
The World Gold Council today launched an essay collection, Gold 2048, analyzing how the gold market is set to evolve in the next 30 years.
North American gold-backed ETFs rose 43.7 tonnes worth $1.9 billion in April.
Transactions must be fully backed by physical metal and settled on the same day to observe Islam's distinction between real economic activity and speculation.
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.
Members of the World Gold Council spent last year a total of $47 billion in countries hosting their mining operations.
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.