For All Defence Aspirants World Gold Council-Nca Academy

For All Defence Aspirants World Gold Council-Nca Academy

World Gold Council

According To The Latest Report By The World Gold Council(WGC),India ,Which Is The World’s Largest Consumer Of Gold, Has The 11th Largest Gold Reserve ,With The Current Holding Pegged At 607 Tonnes.

Key Points

The U.S .Tops The List With Gold Reserves Of More Than 8,000 Tonnes ,Followed By Germany With More Than 3,000 Tonnes.

International Monetary Fund(IMF) Ranks Third On The List With Total Gold Reserves Of 2,814 Tonnes.

Among Asian Countries, China And Japan Have More Reserves When Compared To India.

The Demand For Gold Was Concentrated Among Emerging Market Central Banks, With Diversification The Key Driver In The Face Of Ongoing Geopolitical And Economic Uncertainty.

World Gold Council

The World Gold Council (WGC) Is A Non-Profit Association Of The World’s Leading Gold Producers. It Was Established To Promote The Use Of And Demand For Gold Through Marketing, Research And Lobbying.

Headquartered In London, The WGC Covers The Markets Which Comprise About Three-Quarters Of The World’s Annual Gold Consumption.

Founded In 1987,It Is A Market Development Organization For The Gold Industry Which Includes 25 Members And Many Gold Mining Companies As Well.

Gold And Economy

As A Currency: Gold Was Used As The World Reserve Currency Through Most Of The 20th Century. The United States Used The Gold Standard Until 1971.

The Paper Money Has To Be Backed Up By An Equal Amount Of Gold In Their Reserves.

Although The Gold Standard Has Been Discontinued, Some Economists Feel That We Should Return To It Due To The Volatility Of The U.S.Dollar And Other Currencies.

As A Hedge Against Inflation: The Demand For Gold Increases During Inflationary Times Due To Its Inherent Value And Limited Supply. As It Cannot Be Diluted ,Gold Is Able To Retain Value Much Better Than Other Forms Of Currency.

Strength Of Currency: When A Country Imports More Than It Exports The Value Of Its Currency Will Increase When A Country Is A Net Exporter. Thus ,A Country That Exports Gold Or Has Access To Gold Reserves Will See An Increase In The strength Of Its Currency When Gold Prices Increase, Since This Increase The Value Of The Country’s Total Exports.

 

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