What is World Gold Council (WGC)?

About World Gold Council (WGC):

• It is a nonprofit association of the world’s leading gold producers. 
• A market development organization for the gold industry, the WGC includes 33 members and many members are gold mining companies.
• It was formed in 1987by some of the world’s most forward-thinking mining companies to promote the use of and demand for gold through marketing, research, and lobbying.
• Headquarters: London, UK
• It aims to maximize the industry’s potential growth by monitoring and defending existing gold consumption.
  • It achieves this by setting up gold standards, proposing policies, ensuring fairness and sustainability in the gold mining industry, and promoting the usage and demand for gold for individuals, industries, and institutions.
• The WGC is also the global authority on gold, and they offer comprehensive analyses of the industry.
  • The most famous publications are quarterly reports on the gold market and gold demand trends analyzed by both sector and geographical location.
• It also co-sponsors researchin the development of new uses of gold, or of new products containing gold. 
• It covers the markets which comprise about three-quarters of the world’s annual gold consumption.
• The WGC was the creator of the first gold exchange-traded fund. 

Q1: What is an exchange-traded fund?

An exchange-traded fund is an investment vehicle that pools a group of securities into a fund. As its name indicates, it can be traded like an individual stock on an exchange.

Source: TH

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