WGC releases 'Gold 2048'

THE World Gold Council yesterday release Gold 2048, a report which brings together industry-leading experts from across the globe to analyse how the gold market is set to evolve over the next 30 years.
WGC releases 'Gold 2048' WGC releases 'Gold 2048' WGC releases 'Gold 2048' WGC releases 'Gold 2048' WGC releases 'Gold 2048'

Staff Reporter

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.
 
 
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.
 

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