The Gold Council World Cup can develop a digital gold form to review the physical market of $ 900 billion in London for the yellow metal, The Financial Times (FOOT) reported on Wednesday.
Each digital gold unit, or “Gold interest grouped” (PGI)It would allow investors to buy a form of fractional property in gold bullion. The product will be tested with commercial participants in London, such as the main banks and commercial houses, based on the first quarter, according to the report.
Digitization is a requirement for gold to expand its market scope, said the CEO of the World Council of Gold, David Tait, in an interview with the newspaper.
“We are trying to standardize that digital gold layer, so that the various financial products used in other markets can be used in the gold market in the future,” Tate said.
Gold reached a record price of more than $ 3,550 per ounce this week, having doubled the price in the last two years, since its reputation as a safe refuge asset continues to confirm in the midst of geopolitical tensions.
The World Gold Council did not immediately respond to Coindesk’s request to make more comments.
