Historically speaking, gold is the most valued precious metal on earth, and its uses in culture, art, and technology have proven its significance to mankind. In 1878 The World Gold Council, a group comprised of leading gold-mining companies, was founded to promote the global demand for gold. But what exactly is the World Gold Council? And what do they do?
Adding Value to the World
The World Gold Council aims to create new markets for the uses of gold, and develops insights into the future for their investors. On their website, The World Gold Council states that they were instrumental in creating the $85 billion gold investment market that we have today.
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World Gold Council Members
According to the World Gold Council website, the World Gold Council is comprised of leaders within the gold mining industry, and contains top-talent from various fields of research and development. They have offices in London, New York, Beijing, Tokyo, amongst various other locations throughout the world.
The World Gold Council’s symbol is made up of three rings. According to their site, the rings represent the “never ending circle of meaning,” just as gold represented eternity to many ancient cultures. The three looping rings symbolize the past, present, and future of gold.
The Global Authoritarian Voice for Gold
- The World Gold Council acts as the representative for gold, speaking for its value in world economics and developing technologies. They provide insights and information for gold stakeholders and potential investors. And they maintain that gold has been, and will continue to be, the forefront of the precious metals market.
- The council markets the development of the gold industry, dividing themselves into four distinct sectors. These sectors represent the world’s different demands for gold, and are as follows:
- The Government and Central Banks Sector creates policies and manages assets in the gold market.
- The Technology Sector is currently focused on using gold in medical technology, aerospace technology, and reducing auto emissions.
- The Jewelry Sector develops new ideas for gold jewelry, with the intention of increasing its power and allure as a worn commodity. This sector encourages more people to buy gold in the form of rings, necklaces, and earrings.
- The Investment Sector promotes gold as a paramount investment decision for companies, governments, and individuals who may buy gold.
- One of the World Gold Council’s intentions is to spread understanding of gold’s role in society as well as its present and future potential, and the organization serves as an educator for the legacy of gold and the current facts surrounding it.
- The World Gold Council’s website contains a timeline that outlines gold’s use, including the first smelting in 3600 B.C., the first gold dentistry in 600 B.C., the 1848 California Gold Rush, economic shifts in the gold standard, president Roosevelt’s suspension of gold ownership in 1933, and the record-high gold prices in 2011. These milestones, among others, serve to illustrate the importance gold has had in shaping mankind’s history.
- The World Gold Council also provides other information about this precious metal, including:
- Current, past, and projected gold prices.
- Guides for investors in the U.S. and the U.K.
- Statistics on gold investments and reserves for those who seek to buy gold.
- Information on the ever-changing relationship between gold and the U.S. dollar.