Gold market news and events

Latest news

Aram Shishmanian to step down as CEO of the World Gold Council in 2019

3 August, 2018

The World Gold Council has today announced that Aram Shishmanian will be stepping down as Chief Executive Officer next year after 10 years of leadership. Mr Shishmanian has been CEO of the World Gold Council since January 2009.

Slowdown in ETF inflows drives 4% decline in gold demand in Q2 2018

Gold Demand Trends Q2 2018

2 August, 2018

Global gold demand remained muted in Q2 2018 at 964 tonnes (t), 4% below the same period in 2017, according to the World Gold Council’s latest Gold Demand Trends report. Slower inflows into gold-backed exchange-traded funds (ETFs) created a weak comparison against the highs of last year, contributing to the lowest H1 demand since 2009. Whilst China, the world’s largest gold market, saw a 7% rise in consumer demand as bar and coin demand rose 11% and jewellery demand hit a three-year high.

Development Research Center of the State Council and the World Gold Council jointly release "Recommendations for the further development of China’s gold market"

Gold bar

25 July, 2018

On July 25th, the 3rd China International Gold Conference, co-sponsored by the China Gold Association and the World Gold Council, was held in Beijing. At the event, the Development Research Center of the State Council and the World Gold Council jointly issued the "Recommendations for the further development of China's gold market report".

New report from the World Gold Council explores the climate change impacts of gold

clouds

27 June, 2018

The World Gold Council today launched its ‘Gold and climate change’ report, aiming to provide investors with greater clarity around gold’s impacts on climate change. 

Marking one year since the recommendations from the Taskforce on Climate-Related Financial Disclosure (TCFD), the report is an initial step to build understanding of the gold industry’s greenhouse gas emissions (GHG) footprint, the efforts already underway to reduce emissions and gold’s role in improving energy efficiency and developing low carbon technologies.

Consultation launches on Responsible Gold Mining Principles

Responsible Gold Mining Principles

21 June, 2018

The World Gold Council, the market development organisation for the gold industry, has today published a consultation paper on its Responsible Gold Mining Principles. These Principles are a new framework that set out clear expectations for investors and downstream users as to what constitutes responsible gold mining.

The World Gold Council, working with its Members, the world’s leading gold mining companies, has set out these Principles that it believes address key environmental, social and governance issues for the gold mining sector.

The 30-year view: examining the future of gold

Gold 2048

17 May, 2018

The World Gold Council today launched a one-off essay collection, Gold 2048, bringing together industry-leading experts from across the globe to analyse how the gold market is set to evolve in the next 30 years with key conclusions emerging from authors such as George Magnus, senior economist; Rick Lacaille, Global Chief Investment Officer of State Street Global Advisors; and Michelle Ash, Chief Innovation Officer at Barrick Gold.

Gold demand in 2018 gets off to quiet start as investment slows

GDT Q1 2018

3 May, 2018

Gold demand had a soft start to 2018, reaching 973 tonnes (t), the lowest first quarter since 2008. This was largely caused by a fall in investment demand for gold bars and gold-backed exchange-traded funds (ETFs), as a subdued gold price environment hampered demand.

World Gold Council and International Islamic Financial Market collaborate to improve access to gold market for Islamic investors

WGC IIFM release

28 March, 2018

Today, the International Islamic Financial Market (IIFM) and World Gold Council led the IIFM-WGC Industry Consultative Meeting on Gold Documentation and Products Standardisation in Istanbul, Turkey. The meeting was hosted by Borsa İstanbul at their campus.

Detour Gold Corporation and Kirkland Lake Gold Ltd. join World Gold Council

21 March, 2018

The World Gold Council, the market development organisation for the gold industry, has welcomed Detour Gold Corporation and Kirkland Lake Gold Ltd. to its Board of Members.

Q4 recovery fails to mitigate full year declines in 2017

Gold Demand Trends full year 2017

6 February, 2018

Gold demand rallied in the closing months of 2017, gaining 6% year-on-year in Q4 to reach 1,095.8 tonnes (t). However, overall demand for the full year fell by 7% to 4,071.7t, compared with 2016, according to the World Gold Council’s latest Gold Demand Trends report.

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.

Events

Executive programme in gold reserve management

26 November, 2018

This event is exclusively for senior central bankers, sovereign wealth fund investors and finance ministry officials. Our three-day intensive programme covers a range of essential learning modules, including: fundamentals of gold demand and supply; the role of gold as a reserve asset; case studies on gold reserve management in practice; gold market operations and accounting for gold.

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.

Our inaugural investment summit brought together leading industry experts, asset owners, academics, policy makers and official institutions to discuss the major long-term challenges facing investors today.

Mining Journal Select Conference

26 June, 2018

Mining Journal Select London is a carefully selected group of projects as nominated by the Mining Journal from around the world for the Gold & Silver, Copper & Zinc and Energy Minerals commodity groups.

IIFM Seminar on Islamic Financial Market

8 May, 2018

On 8 May, the International Islamic Financial Market (IIFM) is holding a seminar on Islamic financial markets. Our Director of Central Banks & Public Policy, Andrew Naylor, is participating on a panel about gold in Islamic finance and documentation & products standardisation.

ETFs Global Markets Roundtable

19 April, 2018

On 19 April, the first of four ETFs Global Markets Roundtable conferences will be held in London. The series of conferences will offer an opportunity for a substantive and in-depth discussion about the liquidity, trading, technological and regulatory developments impacting ETFs in the respective jurisdictions.

IIFM-WGC Industry Consultative Meeting on Gold Documentation and Products Standardisation

28 March, 2018

On 28 March, The World Gold Council and the Islamic Financial Market (IIFM) are holding an Industry Consultative Meeting on Gold Documentation and Products Standardisation.

India International Bullion Summit

14 March, 2018

At the 5th India International Bullion Summit (IIBS -5), the World Gold Council’s CEO Aram Shishmanian will be delivering the key note speech.

In addition, Somasundaram PR, World Gold Council’s Managing Director, India will be participating in a panel discussion about India’s Gold Policy and the implementation of the framework.

IFN World Leaders Summit

11 March, 2018

At the IFN World Leaders Summit- the World Gold Council’s Andrew Naylor, Director, Central Banks & Public Policy will be participating in a panel discussion with Islamic Finance industry leaders about gold’s prominence as of late in the Islamic world.

Vincenzaoro - The Jewellery Boutique Show

19 January, 2018

At Vincenzaoro - The Jewellery Boutique Show - the World Gold Council’s CEO Aram Shishmanian, will be presenting the evolution of gold and its future highlighting structural changes and their implications for the jewellery market.

African Mining Indaba 2018

5 February, 2018

At African Mining Indaba 2018, the World Gold Council will again be highlighting gold’s value as a strategic asset and its positive contributions to economies and society, focusing specifically on the outlook for demand and the factors that drive gold performance.  

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. 

3rd China Gold Congress

24 July, 2018

Hosted by the China Gold Association and the World Gold Council, the 3rd China Gold Congress and Expowill be held on July 24-26, 2018 in the China National Convention Center.

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.