Page 14 - Bullion World Issue 11 March 2022_Neat

Bullion World | Issue 11 | March 2022
Highlights of 2022 WEBINAR SERIES
Asia Pacific Precious Metals Update
24 Feb 2022
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The webinar was organized by SBMA & Eventell
to bring together SBMA members and Asia pacific
precious metal participants and others to provide
an update of the global bullion market.
Mr David Tait, Global CEO, WGC
WGC: Programmes for Gold Markets
for 2022
Asia is a hugely important region for the gold market.
It's a major source of gold supply. The consumer
markets of greater China and India are amongst the
largest in the world. Some of the most important gold
trading censtres are also here in Asia- Singapore,
Shanghai and Hong Kong. 50 years after the closing
14
of the gold window, gold continues to meet the
challenges of the uncertain world. The World Gold
Council is striving to advance the frontiers of the
gold market by making sure the gold meets the
requirements of modern investors. There is a need for
the industry to adapt to the changing requirements
of its stakeholders, the need to transform and adapt
to a changing environment is now on our doorstep.
We are currently on the cusp of the fourth Industrial
Revolution. All sectors of the economy, and indeed
the way we lead our lives are impacted through huge
advances in digital technology. And the gold market
is not immune. To ensure gold meets the needs and
aspirations of individuals and investors in the 21st
century, the market should fully grasp the opportunities
that the new technology provides.
Our vision, of the gold market, is underpinned by
Digitization and Technology.
First, the gold market should operate with the highest
integrity and proven provenance. Today's consumers
and investors demand to know where their gold comes
from, who produces them and whether it's been
responsibly and sustainably sourced.
Second, Physical gold has to be fully accessible so that
everyone can benefit from its wealth enhancing, risk
mitigating and stabilizing role of financial assets.
Thirdly, we want to ensure gold is fully fungible, which
means we should be working to harmonize regional
silos, reduce Market fragmentation and ensure that
local and regional gold markets are fully interoperable.
With the technology at our disposal, today we have
been better placed to bring the global gold industry
into the digital era. If we are able to combine our efforts
on this agreed future vision, I'm confident that the goal
remains as relevant as ever in the 21st century.