Research library

This report provides quantitative insights into how large-scale mining (LSM), and specifically mines operated by World Gold Council (WGC) member companies, contributes to economic advancement and improves livelihoods at a global, national and local community level.

Together with our partners at OMFIF, we have written a report on the development of central bank digital currencies (CBDCs) and the implications for the gold market. 

Gold rose slightly in October, despite a risk-on environment and increases in short-term bond yields 

Q3 gold demand down 7% to 831t

ETF outflows outweighed continued recovery in other sectors 

Fuelled by the COVID-19 pandemic, Australia’s already declining cash target rate dropped to 0.1% in 2020, the lowest since 1990. This led to a reduction in Australian superannuation fund allocations to cash and bonds and an increase in risk-on assets, such as equities, in the hunt for returns. 

Econometric analysis shows that rising income is the most powerful driver of Indian gold demand in the long term. This bodes well for gold demand as the economy is set to benefit from a demographic dividend: the IMF forecasts per capita GDP growth of 23% between 2022 and 2026. 

We believe that mandatory hallmarking will be positive for India’s gold market, improving transparency and giving consumers more confidence in the purity of the gold they buy. 

Over the past two months, economic growth has disappointed even as inflation has exceeded expectations. A real risk of stagflationary conditions, with rising costs amid lower growth, appears to be on the cards.