World Gold Council

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World Gold Council
WGClogo.png
Founded 1987
Headquarters London
Products Gold related products
Key People Ian Telfer Chairman, Aram Shishmanian Chief Executive Officer
Web site www.worldgoldcouncil.org
Releases Organization News

The World Gold Council ("WGC") is the U.K.-based market development organization of the gold industry, including global gold mining companies responsible for over 60 percent of corporate gold production.[1]

In addition to using its influence to contribute to the development of the gold mining industry, the World Gold Council also works to develop insights into the future role that gold can play, and to increase and sustain the demand for gold in the investment, technology, and jewelry sectors. The WGC's Government Affairs team works with policymakers and influencers globally, such as central bankers, politicians, regulators, academics and the financial services industry, providing research and opinions on the gold market.[2]

The World Gold Council is also a leading industry resource for data and opinion on world-wide gold demand. It puts out a number of quarterly publications that examines trends in gold demand and industry analysis on gold price performance, including the Gold Investment Digest, and Gold Demand Trends, as well as many other special reports.[3]

History

The WGC was founded in 1987, formed by an association of gold producers in the US, Australia, Canada, South Africa, Fiji, Brazil, and Japan.[4]

Recent News

The World Gold Council has been working closely with the Industrial and Commercial Bank of China (ICBC) in order to develop new gold investments for the Chinese market.

  • In December of 2010, the World Gold council and the ICBC launched the ICBC Gold Accumulation Plan (ICBC GAP) for Chinese investors, in an effort to enhance the current gold investment market in China. The ICBC GAP enables retail investors to accumulate gold through a daily dollar averaging scheme over a long period of time.[5]
  • In February of 2011, the World Gold Council, along with the ICBC launched the first physical gift investment bar in China, called the 'Only Gold Gift Bar', developed to serve as both an investment and a gift, to meet the emerging trend in China for gold gifting.[6]

Products and Services

The WGC is the organization behind the development and promotion of the gold exchange traded fund, SPDR Gold Shares, listed under the acronym of "GLD." GLD is the second largest ETC in the world across all fund categories with over $65 billion in assets under management.[7] The fund's inception date was November 12, 2004.

SPDR Gold Shares is listed on NYSE Arca.[8]

Membership

The World Gold Council has 21 members who include gold mining companies headquartered around the world.[9]

They also have associate members, including Hutti Gold Mines Co Ltd, Royal Gold Inc., China Gold Group Corporation and Mitsubishi Materials Corporation.

The 21 members include:

Key People

References

World Gold Council's LinkedIn page.

  1. About us. World Gold Council.
  2. Government Affairs. World Gold Council.
  3. About gold. World Gold Council.
  4. Producers team up to promote gold. The Sydney Morning Herald.
  5. World Gold Council and ICBC launch first gold accumulation plan in China. World Gold Council.
  6. World Gold Council and ICBC launch first physical gift investment bar in China. Frontier India.
  7. Creating Value. World Gold Council.
  8. SPDR Gold Shares. SPDRGoldShares.com.
  9. Members. World Gold Council.