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.
World Gold Council Mining News
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.
The government's ability to hold off imports in the long term is questionable.
The world saw record bar and coin demand last year - 28% higher than in 2012.
It dropped 21% in Q3, marking what several analysts consider a solid proof of the end of gold’s decade-long bull run.
The Love Trade shines on.
Boosted mainly by China and india.
Imports expected to reach 1,000 tonnes.
CEO Terrence Duffy says the current market situation is pushing people to invest on “tangible, real” gold.
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 (WGC) published Thursday the anticipated conflict-free standard, which aims to restrict production of the yellow precious metal in places where it already fuels or may trigger conflicts and human rights violations.
On Thursday, gold prices declined to $1,642.50 per ounce, while silver fell nearly 90 cents to settle at $31.35.
The World Gold Council released its Gold Demand Trends for the first quarter of 2011 last month. Not surprisingly, gold demand grew 11 percent compared with the first quarter of 2010, as the average gold price for the quarter rose 25 percent year-on-year. It’s an as-expected quarter. But there are definitely some surprises. Let’s take a look at just where that demand growth came from.