London’s $900B Gold Market Could Be Set for Digital Overhaul: FT

by

Finance

What to know:

  • The World Gold Council may develop a digital form of gold to overhaul London’s $900 billion physical market for the yellow metal.
  • The unit of digital gold, or “pooled gold interests” (PGIs), would allow investors to buy a form of fractional ownership in gold bullion.
  • Digitization is a requirement for gold to broaden its market reach, World Gold Council chief executive David Tait said in an interview.

In a truly groundbreaking move, the World Gold Council is considering the unimaginable: a digital form of gold. Imagine it, folks-gold that doesn’t need to be physically hefted, that doesn’t weigh down your pocket with its precious, yellow gleam. And where, you ask, would this innovation take place? Oh, just in London, the shining beacon of global finance, with its whopping $900 billion gold market. Not too shabby, right? 💰

The gold would be transformed into something called “pooled gold interests” (PGIs), a fancy way of saying you can own a fraction of a golden ingot, without actually owning any ingot at all. Think of it as digital gold for the modern investor. Who needs gold bars when you can own a sliver of one from the comfort of your couch? 💻📈

The process, as it turns out, isn’t as simple as tossing some gold into a virtual pot. No, no. David Tait, the World Gold Council’s big cheese, recently told a very respectable newspaper (not that we’d ever doubt it) that this digitization is crucial to expanding the reach of gold. Without it, gold would just be a shiny relic of the past. A bygone treasure for hoarders and pirates. Arrr! ⚓

As if to prove the point, gold recently hit an all-time high of over $3,550 per ounce, a 100% increase in just two years. This means that gold is now worth more than your neighbor’s questionable collection of vintage comic books. And why, you ask? Well, the world is in a bit of a tizzy, and gold, like that reliable friend who shows up with snacks when you’re in a bad mood, is always there in times of crisis.

So, will this digital revolution in the world of gold work? Only time will tell. The World Gold Council hasn’t said much beyond what we’ve heard, and as for us-well, we’re just over here trying to wrap our heads around gold that doesn’t need a vault. But hey, if it brings in more cash, we’re all for it. 🏆

Stay tuned for more updates-though we’ll probably still be clutching our physical gold for now. We’ll see how this all pans out. 😏

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2025-09-03 19:15