The World Gold Council (WGC)

The World Gold Council is an non-profit organization of the world’s main gold producers. The WGC was established to help improve the global demand not just for gold but also to increase interest in gold, and plays a very big role in maintaining today’s gold industry.

The WGC headquarters is located in London.  It covers the market that holds almost three-fourths of the worlds gold consumption.

The main objective of the WGC is to maximize the potential industrial growth of gold consumption by monitoring and defending its existence. The WGC also researches and develops other uses for gold. The organization’s main objective is to trigger and retain the demand of gold.

According to the council of the WGC, the meaning of its three gold rings is “the never ending circle of meaning” or how gold represents endlessness to many ancient civilizations/cultures. The three rings also symbolize the past, present, and the future.

The first gold exchange-traded fund was founded by the WGC in November 2004.  The purpose of the ETF is to ensure the security of the funds that tracks commodity, index and baskets of assets. ETF commonly have a bigger daily liquidity.

The WGC also helped alongside many other corporations to establish the first GAP ( Gold Accumulation Plan ) in China. The goal of GAP is to let investors invest a certain amount of gold in regular intervals. One of the benefits in investing in GAP is it has a lower entry level, which requires 1 gram of gold per day. When the arrangement is met, investors are given a opportunity to renew their contract or convert the gold they invest into cash.

The World Gold Council objectives and goals affects today’s gold industry.  Almost all parts of the industry from gold mining to investments rely on how the WGC sustains and stimulates the demand for gold.

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