In an interview published in the GJEPC magazine Solitaire and quoted by Rough & Polished, David Tait, CEO of the World Gold Council (WGC) explained the nature of the WGC’s “Gold 24/7” program.
According to Tait, Gold 24/7 “will make gold accessible to everyone, all the time and in any form” and will also try to solve gold supply integrity and create completely fungible markets.
In addition, the program seeks to “organize the gold produced in China or India to be sold and traded and used by markets in the United States, UK, Australia, etc.” Tait explained that the WGC believes that “if it manages to join these markets, it can virtually create a new asset class and gold can be used for financing, collateralisation, and many other uses.”
