Exclusive – Marcus Grubb: “Gold Becoming More and More A Part of The Fabric of The [Global] Financial System”
January 23, 2012 | By Tekoa Da Silva
I had the spectacular opportunity last week to speak with Marcus Grubb, Managing Director of Investment with the World Gold Council. It was an exciting interview to say the least, as the World Gold Council is the world’s preeminent gold organization whose member companies represent nearly 70% of global gold production.
During the interview, Marcus shared his thoughts on the changing global perception of gold by investors, governments, and central banks, efforts by the World Gold Council to catalyze global gold demand and delivery systems, as well as the future of gold in the world’s financial system.
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g the discussion with the mandate of the World Gold Council, Marcus said,“The World Gold Council is the market development organization for the world gold industry. It represents the mining producers; something close to 70% of mine production is represented by members of the World Gold Council…We have programs to promote gold demand on a worldwide basis, we produce research on the gold market, and we also invest in developing and creating new channels and new products to make gold more accessible, whether it be in jewelry, investment, technology, and we also speak to and lobby on official use of gold and communicate regularly with the central banks.”
g the discussion with the mandate of the World Gold Council, Marcus said,“The World Gold Council is the market development organization for the world gold industry. It represents the mining producers; something close to 70% of mine production is represented by members of the World Gold Council…We have programs to promote gold demand on a worldwide basis, we produce research on the gold market, and we also invest in developing and creating new channels and new products to make gold more accessible, whether it be in jewelry, investment, technology, and we also speak to and lobby on official use of gold and communicate regularly with the central banks.”A key role of the World Gold Council continued Marcus, is to “Effectively work with commercial partners to catalyze new channels and products–new access vehicles all around the world. Those access vehicles can either be for professional investors such as ETF’s…but also they can be more in the retail initiatives…the Gold Accumulation Plan in China was signed roughly two years ago, and it was a deal I was involved in catalyzing for the World Gold Council and the ICBC(Industrial and Commercial Bank of China)…we assisted ICBC in launching a gold accumulation scheme in China through their branch network. Basically these are products where an investor can open an account at the branch bank and make a regular deposit of funds into that account thro
ugh a standing order or direct debit mechanism. Then the bank supplying the program buys gold on a daily cost average basis, so they take that monthly payment and use it to buy gold and accumulate metal in an account for the consumer.”.......
ugh a standing order or direct debit mechanism. Then the bank supplying the program buys gold on a daily cost average basis, so they take that monthly payment and use it to buy gold and accumulate metal in an account for the consumer.”.......http://bullmarketthinking.com/exclusive-marcus-grubb-%E2%80%9Cgold-becoming-more-and-more-a-part-of-the-fabric-of-the-global-financial-system%E2%80%9D/
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