Key trends explored in the report:

 

• Economic growth is good for gold. As the middle class expands rapidly in China, India and elsewhere, demand for gold will undoubtedly increase.

 

• Technology is likely to become an increasingly important sector for gold, as the world becomes more digital and connected.

 

• Gold mining industry is going to be challenged to produce as much gold in the next 30 years as it has done during recent years.

 

• Production methods and stakeholder relations will need to evolve if the gold industry is to make a meaningful contribution to society over the next three decades.

 

Involved in compiling the report were George Magnus, senior economist; Rick Lacaille, global chief investment officer of State Street Global Advisers; and Michelle Ash, chief innovation officer at Barrick.

 

The link to the report is https://www.gold.org/research/gold-2048?utm_source=launch-email&utm_medium=email&utm_campaign=wgc-gold-2048

 

Overnight, the gold price was fixed at $1293.52.

 

The WTI crude oil price was slightly up overnight at $71.53 per barrel.

 

In softer commodities, cocoa decreased $91 per tonne or 3.33% to $2639/t yesterday from the $2730 in the previous trading session, tradingeconomics.com reported. Historically, cocoa reached an all-time high of $4361.58/t in July of 1977 and a record low of $211/t in July of 1965.

 

Coffee increased 0.60c per pound or 0.53% to 113.85c/lb yesterday from 113.25c/lb in the previous trading session, tradingeconomics.com reported. Historically, coffee reached an all-time high of 339.86c/lb in April of 1977 and a record low of 42.50c/lb in October of 2001.