Published 22nd 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.
Published 12th 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.
Published 25th 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.
Published 22nd 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.
Published 11th February 2016
Global gold demand in 2015 was virtually flat compared to 2014 at 4,212 tonnes (t), according to the World Gold Council’s latest Gold Demand Trends report. Despite a challenging start to the year, gold demand rebounded in the second half of 2015 as a result of sustained buying from central banks and a strong second half from China and India.
Published 13th January 2016
The subcommittee has held its first meeting to discuss the detailed study and exposure draft of the Shari’ah Standard on Saturday 9 January 2016, and it plans to hold a series of meetings in upcoming months to complete its review of the exposure draft and then to submit it to the Shari’ah Board.
Published 3rd December 2015
The World Gold Council, the market development organisation for the gold industry, and Amanie Advisors, the world’s leading advisory firm for Islamic markets, are exploring the creation of a global Shariah Standard on Gold (“the Standard”). An Exposure Draft of the Standard has been published as part of an open consultation with industry.
Published 12th November 2015
Total gold demand in Q3 2015 stood at 1,121 tonnes (t), an increase of 8% compared to the same period last year. According to the World Gold Council’s Gold Demand Trends report. Q3 2015 consisted of two distinct halves. In the first part, a number of factors, including ETF outflows, contributed to a price dip which buoyed consumer demand around the world. A shift in tactical investor positions in the latter part of the quarter led to modest ETF inflows in August and September, which helped to push prices back up.
Published 5th November 2015
The Honourable Prime Minister of India, Shri Narendra Modi has launched the Indian Gold Coin and Indian Gold Bullion at 7 Race Course Road, New Delhi on 5 November 2015. Both, the coin as well as the bullion will be the first ever national gold offerings by Government of India.
Published 22nd September 2015
The World Gold Council and China National Gold Group Corporation (China Gold) have today announced that China Gold has now become a member of the World Gold Council and joined the Board. China Gold is currently the only Chinese gold mining company member of the World Gold Council.