The World Gold Council today launched a one-off essay collection, Gold 2048, bringing together industry-leading experts from across the globe to analyse how the gold market is set to evolve in the next 30 years.
Key conclusions emerging from authors such as George Magnus, senior economist; Rick Lacaille, Global Chief Investment Officer of State Street Global Advisors; and Michelle Ash, Chief Innovation Officer at Barrick Gold include:
- The expanding middle class in China and India, combined with broader economic growth, will have a significant impact on gold demand.
- Use of gold across energy, healthcare and technology is changing rapidly. Gold’s position as a material of choice is expected to continue and evolve over the coming decades.
- Mobile apps for gold investment, which allow individuals to buy, sell, invest and gift gold will develop rapidly in India and China.
- Environmental, social and governance issues will play an increasing role in reshaping mining production methods.
- The gold mining industry will have to grapple with the challenge of producing similar levels of gold over the next 30 years to match the volume it has historically delivered.
Aram Shishmanian, CEO of the World Gold Council commented: “Since its creation in 1987, the World Gold Council has worked with policymakers, regulators and industry participants to drive understanding of and, ultimately, demand for gold.
“The next 30 years will no doubt bring significant changes – some we anticipate, some that none of us predict. I am delighted that in Gold 2048 we have brought together a stellar set of contributors – economists, investment managers, leaders in the mining industry, as well as our own specialists – to consider the global trends and dynamics that will drive this fascinating market forward.”
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From:: Mining.com