Established in 2004, World Gold Trust Services is sponsor to SPDR Gold Trust, Exchange Traded Fund (ETF) whose shares are traded as SPDR Gold Shares (“GLD”) on the New York Stock Exchange, in addition to exchanges in Singapore, Tokyo, Hong Kong and Mexico.
Marcus Grubb-Managing Director of Investment at World Gold Council (WGC) stated that gold as an asset class would witness a renaissance in 2014.In his view, ETFs are not always a clear indication of the sentiment and that gold will deliver positive upside surprise in prices next year.
There is considerable disagreement about Chinese gold demand, with delivery figures on the Shanghai Gold Exchange and import/export figures for Hong Kong suggesting the real totals are far higher than those published by the World Gold Council and Thompson-Reuters GFMS.
What is the true demand for gold? How much is really available in any given year? Does supply and demand really determine the price of gold anymore? The Gold Report called Sprott and John Gravelle, global and Canadian mining leader for PwC, which produced the report for the World Gold Council, to find out.