{"id":21530,"date":"2025-01-07T04:05:35","date_gmt":"2025-01-06T22:35:35","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=21530"},"modified":"2025-04-06T12:52:00","modified_gmt":"2025-04-06T07:22:00","slug":"wgc","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/wgc\/","title":{"rendered":"What is World Gold Council (WGC)?"},"content":{"rendered":"<h2><strong>About World Gold Council (WGC):<\/strong><\/h2>\n<ul>\n<li>It is a <strong>nonprofit association<\/strong> of the world&#8217;s<strong> leading gold producers.\u00a0<\/strong><\/li>\n<li>A <strong>market development organization<\/strong> for the gold industry, the WGC includes 33 members and <strong>many members are gold mining companies.<\/strong><\/li>\n<li>It was <strong>formed in 1987by<\/strong> some of the <strong>world\u2019s most forward-thinking mining companies to promote the use of and demand for gold<\/strong> through marketing, research, and lobbying.<\/li>\n<li><strong>Headquarters: London<\/strong>, UK<\/li>\n<li>It aims to <strong>maximize the industry&#8217;s potential growth<\/strong> by monitoring and defending existing gold consumption.\n<ul>\n<li>It achieves this by <strong>setting up gold standards, proposing policies,<\/strong> ensuring fairness <strong>and sustainability in the gold mining<\/strong> industry, and <strong>promoting the usage and demand<\/strong> for gold for individuals, industries, and institutions.<\/li>\n<\/ul>\n<\/li>\n<li>The WGC is also the <strong>global authority on gold,<\/strong> and they <strong>offer comprehensive analyses<\/strong> of the industry.\n<ul>\n<li>The most famous publications are <strong>quarterly reports on the gold market<\/strong> and gold demand trends analyzed by both sector and geographical location.<\/li>\n<\/ul>\n<\/li>\n<li>It also <strong>co-sponsors researchin<\/strong> the development of <strong>new uses of gold, or of new products<\/strong> containing gold.\u00a0<\/li>\n<li>It covers the markets which comprise about three-quarters of the world&#8217;s annual gold consumption.<\/li>\n<li>The WGC was the <strong>creator of the first gold exchange-traded fund.\u00a0<\/strong><\/li>\n<\/ul>\n<hr \/>\n<h3><strong>Q1<\/strong>: What is an exchange-traded fund?<\/h3>\n<p>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.<\/p>\n<p><strong>Source: <\/strong><a href=\"https:\/\/www.thehindu.com\/business\/rbi-adds-eight-tonnes-gold-to-its-reserves-in-november-2024-world-gold-council\/article69069715.ece\" target=\"_blank\" rel=\"nofollow noopener\">TH<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>World Gold Council (WGC) is a nonprofit association of the world&#8217;s leading gold producers. <\/p>\n","protected":false},"author":5,"featured_media":21531,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-21530","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/21530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=21530"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/21530\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/21531"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=21530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=21530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=21530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}