World Gold Council
The World Gold Council is an international trade association for the gold industry. It is headquartered in London and has offices in India, China, Singapore, the UAE and the United States. The organization's members are gold mining companies. David Harquail is its president and David Tait is the CEO. Its aim is stimulating and sustaining demand for gold through market development.
Some of the key events about World Gold Council
- 1987Established as a global gold industry association to stimulate and sustain demand for gold
- 1987Criticized for promoting gold as an investment during stock market crash, potentially exacerbating financial instability
- 1993Launched the first gold exchange-traded fund (ETF) to make gold investment more accessible
- 1999Introduced the "Gold Demand Trends" report, providing comprehensive analysis of global gold markets
- 1999Accused of manipulating gold prices through coordinated central bank gold sales
- 2004Developed the "Conflict-Free Gold Standard" to combat the use of gold to fund armed conflicts
- 2004Faced allegations of misleading investors about gold's performance as a safe-haven asset
- 2007Created the SPDR Gold Shares, the world's largest gold-backed ETF
- 2008Questioned for promoting gold during global financial crisis, possibly contributing to market volatility
- 2011Criticized for overstating gold's effectiveness as an inflation hedge
- 2012Established the "Responsible Gold Mining Principles" to set standards for responsible gold mining practices
- 2013Accused of downplaying risks associated with gold investments during price decline
- 2015Launched the "Gold Investor" publication to provide insights on gold's role in the global economy
- 2015Faced scrutiny for potential conflicts of interest in gold market reporting
- 2017Introduced the "Guidance for Monetary Authorities on the recommended practice in accounting for gold"
- 2017Criticized for lack of transparency in methodology for calculating gold demand statistics
- 2019Developed the "Retail Gold Investment Principles" to enhance trust in the retail gold market
- 2019Questioned about the environmental impact of gold mining promoted by the organization
- 2020Launched the "You Are Gold" campaign to promote gold's cultural and economic significance
- 2021Faced criticism for inadequate addressing of ethical concerns in gold supply chains
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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