Article Title: World Gold Council
02-11-2022
Economy Prelims Plus
Why is in news? Gold demand dips as inflation hits rural buyers, says WGC
India’s gold consumption in the months of October to December could fall by around a quarter from a year earlier as inflation depresses rural demand, the World Gold Council (WGC) said.
It is a non-profit association of the world's leading gold producers.
The WGC covers the markets which comprise about three-quarters of the world's annual gold consumption.
It works across all parts of the industry, from gold mining to investment, with the aim of stimulating and sustaining demand for gold.
Headquartered in London, they have offices in India, China, Singapore, Japan and the United States.
It is a market development organization for the gold industry which includes 25 members and many gold mining companies as well.
The WGC was established to promote the use of and demand for gold through marketing, research and lobbying.
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.
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