WGC Report Unveiled Gold Market Size and Structure

SEATTLE (Scrap Monster): The World Gold Council (WGC) announced publication of its latest Gold Market Primer, which provides details on gold market size and structure as on date.

According to the report, nearly 209,000 tonnes of gold have been mined throughout human history, out of which around two-thirds have been mined since 1950s. Jewellery accounts for almost half of these above-ground stocks of gold, while central banks hold approximately 17% as reserves. Bars and coins represent 21%, while physically backed gold exchange traded funds (ETFs) hold 2%. The remaining 15% is accounted for by industrial applications and holdings by financial institutions.

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WGC noted that the liquidity of gold is on a par with other major assets. A sizeable portion of the above-ground stocks can potentially be mobilised and sold on the secondary market, as gold can be recycled indefinitely. The overall liquidity is further boosted by the presence of physical gold holdings, derivatives traded on exchanges or the over-the-counter (OTC) market.

The global gold market has undergone significant structural change over the past three decades, the report said.