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Home Foreign Affairs

World Gold Council

October 30, 2021
in Foreign Affairs
Reading Time: 2 mins read
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World Gold Council
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In news– According to the World Gold Council (WGC), Demand for gold in India was 47% higher in the July-September quarter compared with a year earlier.

Key updates-

  • Expectations of higher inflation in the country would also likely further spur demand for the gold.
  • This is primarily driven by what appears to be a firm grip on the pandemic with higher vaccination rates and falling infection rates, leading to a strong rebound in economic activity.

About World Gold Council(WGC)-

  • WGC is the market development organisation for the gold industry. 
  • It supports the development of gold markets and helps investors understand how investments in gold can help them achieve their investment objectives.
  • It is based in the UK, with operations in India, China, Singapore and the US .
  • Its purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market. 
  • It works across all parts of the industry, from gold mining to investment, and their aim is to stimulate and sustain demand for gold.
  • The Council’s 33 Members are some of the world’s most forward-thinking gold mining companies.
  • It helps to support its members to mine in a responsible way and developed the Conflict Free Gold Standard.
  • TheWGC is governed by its Board of Directors, which meets four times per year and comprises representatives from its Members and its Chief Executive Officer. 
  • Members are represented by either the Chair or the Chief Executive Officer of their respective companies.
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Source: The Hindu
Tags: NewspaperPrelims

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