The World Gold Council (WGC), alongside law firm Linklaters and Hilltop Walk Consulting, has put forward a plan to overhaul the global gold market through a Wholesale Digital Gold ecosystem. This initiative seeks to improve the ownership, trading, and utilization of gold, aiming to bridge gaps in the current system.
The proposal arrives at a time of record gold prices. Spot prices surged above $3,560 an ounce on Wednesday, extending a rally powered by growing expectations of a U.S. Federal Reserve rate cut. Futures in New York also hit fresh highs.
