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
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
14
WGC: Programmes for Gold Markets
for 2022
Asia is a hugely important region for the gold market,
as you know. It's a major source of gold supply, and
the consumer markets of greater China, India are
amongst the largest in the world. Some of the most
important gold trading centers are also here in Asia-
Singapore, Shanghai and Hong Kong. 50 years after
the closing of the gold window, gold continues to
meet the challenges of the uncertain world, but so do,
must the world gold industry. 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.
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 rows 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, they've
never 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 goal remains as relevant as ever in the 21st
century.