World Gold Council

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World Gold Council

A professional organization of mining companies that produces gold. It exists to promote the use of, and investment in, gold through research, lobbying, and other means. Importantly, it has worked for reducing regulation on the gold trade. It also provides educational opportunities for members and the general public through its Goldipedia service, among other things. It was established in 1987 and is headquartered in Geneva. See also: Gold bug, Gold fund.

World Gold Council

an organization based in Geneva whose main objective is to promote the sale of GOLD bullion (bars and coins) to investors, and to widen the appeal of gold as an ornamental (jewellery) material and as an industrial base metal.
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The growth in H1 jewellery demand was largely the product of a more positive environment for Indian consumers, according to WGC's Q2 Gold Demand Trends report.
Aside from the 247 tonnes of gold purchased directly by central banks through May, market expectation that the US Federal Reserve will cut interest rates two or three times later this year is also a factor," the WGC said.
Some 4,345.1 tons of gold was bought worldwide in 2018, up from 4,159.9 tons in 2017, the WGC said.
Investment demand fell by nearly a quarter, driven by reduced inflows into bullion-backed exchange traded funds, the WGC said.
Another advantage of gold is that the sources of demand for gold are very different from cryptocurrencies, according to WGC.
WGC India Managing Director Somasundaram P R said: "The gold industry in India is at the cusp of transformation, as transparency, standards and infrastructure begin to define the next phase of reforms.
"Falls in the gold price have historically triggered buying in price sensitive markets and we are already seeing early indications of this across Asia and the Middle East," said Alistair Hewitt, Head of Market Intelligence at the WGC.
"Jewelry demand came under pressure from negative consumer sentiment, while investment was a casualty of directionless prices and stock market gains," the WGC said.
The WGC provides a full suite of resources for companies and organizations planning to take part in the festivities.
The note published by the WGC, however, indicates that the list includes only countries that have reported their gold holdings over the past six months.
Days after a report by the World Gold Council, or WGC, disclosed Russia increased its gold reserves in November, the country's Central Bank disclosed it had divested some of its precious safe have yellow metal gold to help keep the economy afloat.
Kaymer's 66 was the lowest round of a cold, damp day, while Iwata birdied two of the last three holes for a 68 in his first appearance in a WGC event.