Page 31 - Bullion World Volume 02 Issue 12 December 2022

Bullion World | Volume 2 | Issue 12 | December 2022
International 1-week increase of

9.1 billion! Russia's
news foreign exchange

gold reserves

increased to 550.1 billion US

Digital gold is dollars.

inevitable – The Dubai Gold and Commodities Exchange (DGCX) announced
the launch of new Physical Gold Futures and Spot Gold Contracts.
Market Vector. The newly launched products will allow traders and financial

institutions to use physical gold as collateral to access affordable
Martin Leinweber, a digital sources of short-term lending. The products are designed so
asset product strategist at Market Vector, said traders can use them to get short-term liquidity from banks
that tokenising gold and evolving blockchain through the spot gold markets. Both products are available for
technology would unlock new demand for the gold trading now on the DGCX EOS Trader platform.
market. Leinweber explained that a significant Source: https://www.scrapmonster.com
advantage of digital gold is fractionalisation.
Consumers can own a small amount of gold Swiss: Gold jumps
on a digital exchange, a more affordable option
than buying physical bullion. However, Digital on the green
gold is still a very niche market. But that is also bandwagon
a reflection of the overall landscape. Globally,
hedge funds own less than 5% of gold in their According to MKS Pamp, a Geneva-
portfolios. Using blockchain technology, the based refiner that wants to help
WGC, in partnership with the London Bullion make the gold industry more sustainable and environmentally
Market Association, is building a digital ledger responsible. The precious metals group launched two carbon-
to track gold bars through the supply chain, neutral gold bars, the result of a more than one-year effort
ensuring market integrity. spearheaded by Tamara Jomaa-Shakarchi, the daughter of
Source: https://www.kitco.com MKS Pamp’s CEO, who heads the company’s Environmental,
Social and Governance (ESG) team. She says there is a growing
Demand for gold has demand for carbon-neutral products. A consumer can now buy
MKS PAMP gold and know exactly where the GHG (greenhouse
increased due to the gas) emissions are, like on the nutritional label of a cereal box,
and how much carbon emission is related to your product. But
conflict in Ukraine - Al- then we take it one step further: we purchase carbon credits that
offset the emissions related to the gold."
Eqtisadiah. Source: https://www.swissinfo.ch

World demand for gold Nigeria Establishing
has increased due to
the conflict in Ukraine. Plants to Refine Gold,
According to the report, Other Minerals –
in 2022, interest in gold
mining has increased sharply from both buyers Official
and investors investing in extracting the valuable Nigeria has begun the process of refining gold, gemstones and
metal. At the same time, in 2021, an increase in other mineral resources in the six geo-political regions of Nigeria.
gold production was already recorded, which in The Minister of Mines and Steel Development, Olamilekan
monetary terms amounted to $198 million. Such Adegbite, said this when he appeared on the News Agency of
a situation could be beneficial for Russia, where Nigeria (NAN) Forum in Abuja. According to him, adding value
there are not only large reserves of the metal but to the country's mineral resources will go a long way in creating
also a developed infrastructure for its production. jobs and wealth for Nigerians.
Source: https://rossaprimavera.ru Source: https://allafrica.com/stories/202211270067.html
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