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When
food shortages and the energy crisis really begin to bite, only gold,
silver and gemstones might be trusted apart from barter. In a secure future,
banks who trade in real coin of the realm, are the only ones who will be
trusted. For this reason precious metal coins make a comeback. John Storm is
in favor of a more stable form of international currency, over paper promissory
notes. He has suggested that gold is index linked to energy, food, timber and
other essential commodities.
The World Gold Council is the market development organisation for the gold industry. It works across all parts of the industry, from gold mining to investment, with the aim of stimulating and sustaining demand for gold.
They frequently publish research that demonstrates gold’s strength as a preserver of wealth – both for investors and countries. They also provide analysis of the industry, offering insights into the drivers of gold demand. They have also launched various products such as SPDR Gold Shares and gold accumulation plans in India and China.
The World Gold Council is an association whose members comprise the world’s leading gold mining companies. It helps to support its members to mine in a responsible way and developed the Conflict Free Gold Standard.
Headquartered in London, United Kingdom, they have offices in India, China, Singapore and the United States. David Harquail became new president. WGC appoints David Tait as the CEO.
Gold is a precious metal bought by people across the world for different reasons, often influenced by socio-cultural factors, market conditions, and macro-economic drivers in their country.
PROSPECTING
Gold mine exploration is challenging and complex. It requires significant time, financial resources and expertise in many disciplines – e.g. geography, geology, chemistry and engineering.
The likelihood of a discovery leading to a mine being developed is very low - less than 0.1% of prospected sites will lead to a productive mine. And only 10% of global gold deposits contain sufficient gold to justify further development.
Once basic facts about the local geology and potentially viable deposit are established, the gold ore body can be modelled in detail and its feasibility assessed.
PRODUCTION
The mining operation stage represents the productive life of a gold mine, during which ore is extracted and processed into gold. Processing gold involves transforming rock and ore into a metallic alloy of substantial purity, known as doré, typically containing between 60-90% gold.
During its life, a number of factors – such as the price of gold or input costs – will affect which areas of an ore body are deemed economically profitable to mine. In times of higher prices, mining low-grade ore will become profitable as the higher price offsets the increased cost of extracting and milling greater volumes. When the price is lower or costs rise, it might only be profitable to extract and process higher-grade ores. Mining operations are regularly re-assessed as market conditions change, new technical information comes to light, and process and technological enhancements are considered.
Increasingly, technological advancements are making the gold mining process smarter, cleaner and more efficient. Mines are now designed with these technologies in mind and electrification, digitisation and automation are becoming increasingly common elements reshaping gold mine operations and processes.
WGC CONTACTS
World Gold Council - Head Office
7th Floor, 15 Fetter Lane,
London, EC4A 1BW
United Kingdom
Email: info@gold.org
Telephone: +44 20 7826 4700
New York
World Gold Council
685 Third Avenue
27th Floor, New York
NY 10017
United States of America
Email: info@gold.org
Telephone: +1 212 317 3800
Shanghai
World Gold Council
Room 4805 B
No. 1717 Nanjing West Road
Wheelock Square
Jing’an District
200040 Shanghai
People's Republic of China
Email: info@gold.org
Telephone: +86 21 2226 1188
Singapore
World Gold Council (Singapore) Pte Ltd
10 Collyer Quay
Level 37, Ocean Financial Centre
Singapore, 049315
Email: info@gold.org
Telephone: +65 6808 6749
Mumbai
World Gold Council (India) Private Ltd (CIN: U74900MH2011FTC224567)
Registered office:
B-6/3, 6th floor
Laxmi Towers
C-25 Bandra Kurla Complex
Bandra (East)
Mumbai 400051, India
Email: info@gold.org
Telephone: +91 22 6157 9100
Beijing
World Gold Council
Room 1009, 10/F,
Beijing Fortune Building,
No. 5 North Dongsanhuan Road,
Chaoyang District,
100004 Beijing,
People’s Republic of China
Email: info@gold.org
Telephone: +86 10 8592 5000
TOP
TEN
1.
The United States of America, with 8,133.5 tons of gold
2. Germany, with 3,362.4 tons of gold
3. Italy, with 2,451.8 tons of gold
4. France, with 2,436.2 tons of gold
5. Russia, with 2,298.5 tons of gold
6. China, with 1,958.3 tons of gold
7. Switzerland, with 1,040 tons of gold
8. Japan, with 765.2 tons of gold
9. India, with 686.8 tons of
gold.
10. The Netherlands, with 612.4 tons of gold
In
the dock, John Storm giving evidence at the Hague in Brussels, accused
of artifact theft: stealing pirates gold. A number of countries are
making claims, unsupported evidentially.
HOW
DOES HAVING GOLD RESERVES IMPACT A COUNTRY?
Any country that exports gold or has a huge gold reserve will inevitably experience a rise in its currency as the price of gold
increases. This price rise of gold increases the trade or helps balance the trade deficit. It also leads to an increase in the country’s
exports.
On the other side, if any country lacks gold in its reserves and is a massive importer of it, they have a weaker economy whenever the gold
price increases.
In 2020, the top 10 countries traded more than one metric ton of gold, emphasizing just how important this metal is in the world economy.
According to the WGC (World Gold Council) data from April 2021, central banks bought about 273 tons of gold in 2020.
The
International
Monetary Fund is not a country; thus, it is not included in the list. However, if it were, it would be in the third position with 2,814 tons
of gold in its safe.
The
best known golden treasures are Doubloons, Guineas and
Sovereigns. Other
forms of transportable money are diamonds, rubies and
emeralds. It's difficult to trade with old bars or ingots. Not so
difficult to trade half sovereigns or silver pieces of eight.
The
Cup of Christ is the Holy Grail, that has never been found, in all
searches through the ages.
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