In the 1970s when new sites were discovered by looters in northern Colombia it caused the world gold market to crash.
The World Gold Council is a market-development organization for the gold industry.
FORBES: WGC's Toussaint: China, India Account More Than Half Of Global Gold Demand
Gold market bulls were encouraged Thursday when the World Gold Council reported strong world central bank demand for gold in the third quarter, at a total of 148 tons.
Barrick is an industry bellwether, the largest gold producer in the world by market cap and annual production.
It is likely that China will emerge as the largest gold market in the world for the first time in 2012.
The World Gold Council, which is the market development organization for the gold industry, said it is in discussions with member companies on the subject, did not elaborate on the reason for the move to change how costs are calculated.
IECO, and nearby Sisma, to dominate their business, supplying about 80% of the total world market for machinery for making gold jewellery.
Research by the World Gold Council released Thursday shows that gold can work as a partial hedge for emerging market currency risk.
FORBES: INTERVIEW: WGC: Gold Overlay Works As Currency Hedge In EM Currencies
Also not bullish for the gold market was a report from the World Gold Council Thursday that worldwide demand for gold slipped by around 11% in the third quarter.
The region now makes up around 58% of the global market for gold, according to statistics gathered by the World Gold Council, compared with 35% in 1970, while the combined demand from Europe and North America has fallen from 47% to 27% in the same period.
WSJ: In Thailand, Those Seeking A Golden Glow Rush to the Spa
Gold and silver investor demand continues to be tempered by bull market runs in major world stock markets.
FORBES: A.M. Kitco Metals Roundup: Gold Weaker amid Bearish Outside Market Forces
It can be argued that gold prices could presently be trading significantly lower if not for this major sore in the world market place continuing to fester.
Robert Pringle of the World Gold Council told the BBC's World Business Report that the new sales threshold would help stabilise the market for the yellow metal.
He learned, for example, that gold of 0.995 purity is the more commonly traded variety in India, the world's biggest market for the precious metal.
So here is one principle for delegates in Poznan to agree on - the carbon market must be turned into gold, not for carbon traders and financiers, but to finance the world's transition to a low carbon, equitable future.
应用推荐