The World Gold Council could develop a digital form of gold to revise the physical market of $ 900 billion in London for yellow metal, Financial time (Ft) reported Wednesday.
Each digital gold unit, or “interest in common gold” (Pgis)would allow investors to buy a form of property split into gold lights. The product will be tested with commercial participants in London, such as large banks and commercial houses, from the first quarter, according to the report.
Digitization is a requirement for gold to expand its market scope, said the CEO of World Gold Council, David Tait, in an interview with the newspaper.
“We are trying to standardize this digital gold layer, so that the various financial products used on other markets can be used on the gold market in the future,” said Tate.
Gold has reached a record price of more than $ 3,550 per ounce this week, after having doubled the price in the past two years, because its reputation for Safe Havay Actt continues to be confirmed in the middle of geopolitical tensions.
The World Gold Council did not immediately respond to the request for comments from Coindesk.
