Gold Market news and events

Latest news

Overall gold demand declines in Q2 as slower ETF inflows offset stronger physical demand

Overall gold demand declines in Q2 as slower ETF inflows offset stronger physical demand

3 August, 2017

Global gold demand in Q2 2017 was 953 tonnes (t), a fall of 10% compared with the same period in 2016. This was reflected in a 14% decline in demand for the first half of 2017, which slowed to 2,004t, according to the World Gold Council’s latest Gold Demand Trends report. 

After record levels of inflows into Exchange Traded Funds (ETFs) in H1 2016, a significant slowdown in the sector was the predominant factor behind the fall in overall demand so far this year. Net central bank purchases of 177t in the first half of 2017 were also slightly lower compared to the same period in 2016, down 3%. By contrast, H1 2017 saw bar and coin investment grow, as did both jewellery and technology demand, each making modest gains compared to 2016.

 

LME and the World Gold Council confirm LMEprecious launch on 10 July

6 July, 2017

The LME (London Metal Exchange) and the World Gold Council have today confirmed that LMEprecious will launch on 10 July 2017, as planned. All preparations are now complete with regulatory go-ahead also received.

LMEprecious introduces exchange-traded and centrally cleared precious metals products to the London market. It will comprise spot, daily and monthly futures for gold and silver. The contracts were designed to support ongoing regulatory change, enabling greater market transparency and access, as well as providing additional robustness to the precious metals market.

GST's impact on India's gold market

India gold market

8 June, 2017

On 1st July, India’s labyrinth of taxes will be replaced with a simple, nationwide Goods & Services Tax (GST). This is the biggest fiscal reform since India’s liberalisation in the early 1990s. While gold consumers will face a slightly higher tax rate, and the industry will go through a period of adjustment, we see the net impact on the gold industry as being positive.  The gold supply chain should become more transparent and efficient, and the tax reform can boost economic growth, which we see as supporting gold demand.

Gold demand slips from last year’s record Q1, although retail investment demand remains steady

GDT Q1 2017

4 May, 2017

Global gold demand in Q1 2017 was 1,034 tonnes (t), a decline of 18% compared to the record Q1 in 2016, according to the World Gold Council’s latest Gold Demand Trends report. Inflows into Exchange Traded Funds(ETFs) totalled 109t which, although solid, were nonetheless a fraction of last year’s near-record inflows. Slower central bank demand also contributed to the weakness. Bar and coin investment, however, was healthy, at 290t, an increase of 9% year-on-year, while demand firmed slightly in both the jewellery and technology sectors. 

Consultation launches on a common accounting framework for gold

gold bars

20 April, 2017

The World Gold Council, the market development organisation for the gold industry, has today published its consultation paper, Guidance for Monetary Authorities on the recommended practice in accounting for gold. The paper aims to help standardise accounting practices with respect to monetary gold, by establishing a suitable framework that is consistent with the concepts of current general purpose financial reporting frameworks.

The World Gold Council welcomes Newcrest Mining as a Member

10 April, 2017

Newcrest Mining (“Newcrest”) has re-joined the World Gold Council, the market development organisation for the gold industry. Newcrest is the largest gold producer listed on the Australian Securities Exchange and one of the world's largest gold mining companies with mines located in Australia, Papua New Guinea, Indonesia and in Côte d’Ivoire.

World Gold Council appoints John Reade as Chief Market Strategist

9 February, 2017

The World Gold Council today announced that it has appointed John Reade as Chief Market Strategist. John joins the World Gold Council from Paulson & Co, where he served as Managing Partner of Paulson Europe and Gold Strategist. Prior to Paulson & Co, John worked at UBS as the Precious Metal Strategist for a number of years. He is widely viewed as one of the preeminent gold analysts in the world.

Gold demand rises 2% in 2016 as investment surges to four-year high

Gold demand rises 2% in 2016 as investment surges to four-year high

3 February, 2017

Global gold demand rose 2% in 2016 to reach 4,309 tonnes (t), the highest level since 2013, according to the World Gold Council’s latest Gold Demand Trends report. This was largely driven by inflows into gold-backed Exchange Traded Funds (ETFs) of 532t, the second-highest year on record, as investors responded to concerns over future monetary policy, geopolitical uncertainty and negative interest rates.

“India’s Gold Market: evolution and innovation” examines the entire gold supply chain and the drivers for future growth

India gold market report

24 January, 2017

The World Gold Council today launched the report titled ‘India’s Gold Market: evolution and innovation’. This report explains the entire supply chain for India’s gold market– from imports and recycling through to consumer demand – and how it is likely to develop in the coming years. It also provides an overview of existing gold-related policies and how they have evolved over recent years.

Launch of the AAOIFI Shari’ah Standard on Gold, developed in collaboration with the World Gold Council

5 December, 2016

Launch of the AAOIFI Shari’ah Standard on Gold, developed in collaboration with the World Gold Council. 

Exchange-traded products continue to drive gold demand in the third quarter of 2016

Exchange-traded products continue to drive gold demand in the third quarter of 2016

8 November, 2016

Global gold demand reached 993 tonnes (t) in the third quarter of 2016, a fall of 10% compared to the same period last year, according to the World Gold Council’s latest Gold Demand Trends report.

India’s gold investment evolution

Indian gold coin

13 October, 2016

Indian Gold Coin: An introduction to branded gold coins

Gold coins are intrinsic to gold demand, not just in India, but across the world. In most countries that have an affinity with gold however, that relationship is symbolised by a sovereign gold coin. These coins foster domestic demand, but they are also widely exported, encouraging economic growth and driving brand awareness overseas.

World Gold Council appoints Joseph Cavatoni as Managing Director, USA and ETFs

7 October, 2016

The World Gold Council, the market development organization for the gold industry, today announced that it has appointed Joseph Cavatoni, Managing Director USA and ETFs, who joins from Blackrock.

Near record high in H1 demand driven by western investors

Near record high in H1 demand driven by western investors

11 August, 2016

Continued growth in Q2 2016 (+15%) brought total H1 gold demand to 2,335t – the second highest first half on record.

World Gold Council, LME and key market participants to launch LMEprecious

World Gold Council, LME and key market participants to launch LMEprecious

9 August, 2016

The World Gold Council and the London Metal Exchange (LME), together with Goldman Sachs, ICBC Standard Bank, Morgan Stanley, Natixis, OSTC and Societe Generale, today announce their intention to introduce a suite of exchange-traded and centrally-cleared precious metals products. 

The World Gold Council welcomes Sibanye Gold and OceanaGold as new Members

22 June, 2016

Sibanye Gold and OceanaGold Corporation have joined the World Gold Council, the market development organisation for the gold industry. Sibanye is the largest individual producer of gold in South Africa and one of the 10 largest globally. OceanaGold is a rapidly growing multinational gold producer with assets located in the Philippines, New Zealand and the United States.

Gold demand at record levels in Q1 2016 - up 21% as investors surged into ETFs

Gold demand at record levels in Q1 2016

12 May, 2016

Global gold demand reached 1,290 tonnes (t) in the first quarter of 2016, a 21% increase compared to the same period last year, making it the second largest quarter on record, according to the World Gold Council’s Gold Demand Trends report. This increase was driven by huge inflows into exchange traded funds (ETFs), fuelled by investor concerns regarding economic fragility and an uncertain financial landscape. Concurrently,  global demand for jewellery was down 19%, as higher prices and industrial action in India and a softening of the economy in China meant many consumers delayed making purchases.

World Gold Council signs memorandum of understanding with the DMCC to support the promotion and adoption of a Shari’a standard on gold in Dubai

25 April, 2016

At the 2016 Dubai Precious Metals Conference, the World Gold Council hosted a successful seminar to update industry participants on the latest developments in the creation of a global Shari’a Standard on Gold (“the Standard”). The event kicked off the schedule and showcased gold product ideas that will be enabled by the Standard.

Shanghai Gold Benchmark Price launch

22 April, 2016

A year and half after it was established in September 2014, the Shanghai Gold Exchange (SGE) has launched the first yuan-denominated gold benchmark price. The launch ceremony was held at the Shanghai International Convention Center on April 19, 2016. Pan Gongsheng, Deputy Governor of the People’s Bank of China, Zhao Wen, Vice Mayor of Shanghai Municipal Government and over 300 delegates including the World Gold Council, The Silver Institute and major domestic and foreign gold producers as well as consumers and investment institutions attended the ceremony.

Events

International Conference on Central Bank Accounting Practices

28 September, 2017

Co-hosted with the Center for Latin American Monetary Studies (CEMLA) and the Central Bank of Costa Rica

Expert Panel: Accounting from a central bank’s perspective

6 June, 2017

The expert panel is aimed at central bank employees who are involved in accounting and banking supervision. The course aims to discuss current issues in international accounting, mainly – but not only – related to problems in the accounting of financial instruments from the perspective of central bankers and banking supervisors.

Shari’ah Standard on Gold - Roadshow

6 December, 2016

Following the launch of the Shari’ah Standard on Gold on 5 December 2016, a roadshow was held across the Middle East and South East Asia. This series of events brought together Islamic finance market practitioners, investors, product development teams and Shari’ah scholars to discuss how to apply the Standard, increase the role of gold in the Islamic finance system and develop new Shari’ah compliant gold products.

Executive Programme in Gold Reserves Management 2016

19 September, 2016

After a successful couple of years at UC Berkeley, the World Gold Council is bringing its flagship Executive Programme in Reserve Asset Management to the University of Cambridge in 2016.