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Global gold demand stays strong, supporting record-high prices
Central banks continued to buy gold at pace in a quarter that saw the gold price reach a series of record highs. Bar and coin investment was firmer, offsetting continued outflows from ETFs. Inclusive of sizable OTC buying by investors, total gold demand increased 3% y/y to 1,238t – the strongest first quarter since 2016.
World Gold Council (WGC) and Dubai Multi Commodities Centre (DMCC) announce joint gold industry programme
The World Gold Council (WGC) formally announces the opening of its new office in Dubai, and regional headquarters for the Middle East.
Geopolitical and economic uncertainty bolster gold demand and prices in 2023
The World Gold Council’s Gold Demand Trends report reveals that annual gold demand (excluding OTC) fell to 4,448t in 2023, down just 5% from a notably strong 2022. When factoring in demand from the OTC markets and other sources, total demand climbed to a new annual record at 4,899t.
Collaboration underway to develop consolidated standard for responsible mining
The Copper Mark, Mining Association of Canada, ICMM and the World Gold Council are working towards consolidating their individual voluntary responsible mining and metals standards into a single global responsible mining standard, and multi-stakeholder oversight system.
World Gold Council and Dubai Multi Commodities Centre (DMCC) Collaborate to Combat Illicit Hand-Carried Gold Trade
In a move to address the challenges posed by the illicit trade of hand-carried gold, the World Gold Council (WGC), in collaboration with the Dubai Multi Commodities Centre (DMCC), has announced a strategic initiative. This project will seek to strengthen and standardize international regulations and procedures, addressing a crucial gap in the responsible sourcing and trade of gold.
