Gold Market news and events

Latest news

Gold demand falls 9% to 915t in Q3 as ETF inflows slow from unprecedented highs in 2016

Global gold demand in Q3 2017

9 November, 2017

Global gold demand in Q3 2017 was 915 tonnes (t), a drop of 9% compared with the same period in 2016, according to the World Gold Council’s latest Gold Demand Trends report. This decline was led by two key factors: a softer quarter in the jewellery sector and significantly lower inflows into exchange-traded funds (ETFs).

World Gold Council appoints David Harquail as new Chair

26 September, 2017

The World Gold Council announces the appointment of David Harquail, President and CEO of Franco-Nevada Corporation, as its new Chair. Mr Harquail succeeds Randall Oliphant, who has served as Chair for the past four years.

The World Gold Council welcomes Resolute Mining as a Member

18 September, 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.

 

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

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.

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

6 July, 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.

GST's impact on India's gold market

India gold market

8 June, 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. 

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

GDT Q1 2017

4 May, 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.

Consultation launches on a common accounting framework for gold

gold bars

20 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.

The World Gold Council welcomes Newcrest Mining as a Member

10 April, 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.

World Gold Council appoints John Reade as Chief Market Strategist

9 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.

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

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.

“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

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

Events

Tackling long-term global investment challenges

25 April, 2018

The World Gold Council and NYU Stern School of Business' inaugural annual conference: Tackling long-term global investment challenges.

The conference brings together leading industry experts, asset owners, academics, policy makers and official institutions to discuss the major long-term challenges facing investors today.

World Islamic Banking Conference 2017

4 December, 2017

IIFM pre-conference day seminar at WIBC 2017. "Gold in Islamic finance and products standardization", Thuraya Ballroom, Art Rotana Hotel, Amwaj Islands, Kingdom of Bahrain.

12th China Gold & Precious Metals Summit 2017

6 December, 2017

Officially endorsed by the China Gold Association, Shanghai Gold Exchange and organised by IGVision, the 12th China Gold & Precious Metals Summit 2017 will be held in Shanghai China. As China's largest precious metals conference for knowledge-sharing and partnership opportunities, over 300 professionals representing producers, dealers, brokers, central bank and shippers will gather together to pay close attention to China's efforts to secure steady mine production, precious metal demand prospects and market development, and international cooperation by leading Chinese gold producers.

Roland Wang, Managing Director, China, World Gold Council will be presenting a session on global gold demand and supply while also exploring trends in product development in gold trading and investments.

13th International Gold & Silver Symposium

29 May, 2018

The 13th International Gold & Silver Symposium (Conferences & Exhibition) will take place in Lima on May 29 - 31, 2018. This event is organized by the National Society of Mining, Oil and Energy of Peru and its main objective is to promote awareness in the potential of natural resources, particularly gold and silver resources, as well as promote new investment and business opportunities in the region. 

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.