DEFINITION of 'World Gold Council - WGC'
A nonprofit association of the world's leading gold producers, established to promote the use of (and thus demand for) gold through marketing, research and lobbying. Headquartered in London, the WGC covers the markets which comprise about three-quarters of the world's annual gold consumption.
BREAKING DOWN 'World Gold Council - WGC'
The WGC aims to maximize the industry's potential growth by monitoring and defending existing gold consumption. It also co-sponsors research in the development of new uses of gold, or of new products containing gold. For example, successful projects supported by the gold industry have led to the development of jewelry containing 99% gold. The WGC was also the creator of the first gold ETF.