S&P Global webinar: Corporate Sustainability Assessment

Last month, we held a webinar with S&P Global and our Members at which S&P presented their Corporate Sustainability Assessment (CSA). Many of our Members already submit the CSA and this was an opportunity to review industry data from past assessments and discuss how elements of the RGMPs could potentially be incorporated into their methodology going forward.


India’s gold market in May: retail demand collapsed amid COVID-induced lockdowns


  • The domestic gold price ended 5.1% higher in May at Rs48,993/10g 
  • Retail demand collapsed amid COVID-induced lockdowns in the country 
  • Indian official imports slowed and the local market flipped to discount 
  • Monthly inflows into gold ETFs slowed as higher returns lured investors towards the equity market. Total holdings for Indian gold-backed ETFs (gold ETFs) reached 33.2t by the end of May; a net inflow of 0.1t (Rs2.9 bn; US$39mn)
  • The Reserve Bank of India (RBI) added 0.9t of gold to its reserves in the month increasing its total gold reserves to 696.2t.


Introducing our Central Bank Dashboard

The World Gold Council is launching the Central Bank Dashboard, an innovative web-based tool that allows the comparison of central bank gold reserve holdings across regions, income levels, foreign exchange arrangement and other qualitative and quantitative indicators.

The Central Bank Dashboard provides users with the flexibility to visualise trends in gold and foreign exchange reserve holdings across a multitude of vantage points. 


Basel III and the Gold Market

As Basel III comes into force, we look at the impact of the Net Stable Funding Ratio (NSFR) on the gold market.

There has been much debate about the implications of Basel III on the bullion industry. What is clear is that the under the current rules the cost to banks of holding gold on balance sheet will increase – the NSFR requires 85% of required stable funding. 


Short-term gold performance model: how it works and why it matters

Our short-term gold performance model enables investors to dissect monthly gold returns into key drivers of investment demand. Different estimation windows provide additional insights on the varying influence of drivers over time. During May, our model shows gold’s performance was only modestly impacted by rates but they still remain a relevant driver this year.