Economy

World Gold Council releases 30-year outlook on gold industry

The analysis examines a variety of trends and challenges facing the economy, mining and technology

The World Gold Council has launched a one-off essay collection titled ‘Gold 2048’, which analyses how the gold market is set to evolve over the next 30 years.

Contributions 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 re-shaping 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 said: “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.”

He added: “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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