By: John Fisher
Who is the World Gold Council you might ask, and what is the value of their organization? Quite simply, the World Gold Council is the market development organization for the gold industry.
Working within the investment, jewelry and technology sectors, as well as engaging in government affairs, their purpose is to provide industry leadership, while stimulating and sustaining demand for gold.
First let me begin by clarifying that we are not members of the Council (only large miners with at least $40 billion in annual revenues meet the membership criteria, and pay to be member.) We instead have been identified as a “Where to Buy Gold” partner * by the Council through an application process, and have not compensated the Council in any way.
The World Gold Council Partners are identified as described below on their website:
“The World Gold Council creates value through the development of mutually beneficial alliances and activities with best in class partners.
We share our knowledge and insights with a range of organisations that are seeking greater insight into the world of gold or which are looking to develop commercially viable products, services or markets.
The World Gold Council has a strong track record of developing partnerships that lead to greater understanding of gold’s role in society, that create structural and lasting shifts in demand for gold, and that are commercially beneficial for all stakeholders. In investment, we place high value on the many strong, collaborative partnerships we’ve developed across the globe.
These partnerships advance our objectives on two principal levels:
- We educate investors about gold’s unique investment qualities and develop, sustain and increase demand for gold as an asset class.
- We improve access to physical gold investment across products and across geographies, working towards universal access.”
* Note: The “Where to Buy” partners are not literally endorsed by the Council, but we do have to complete a thorough application that requires financial and legal disclosures, annual report submission, and full bank and trade references.
Click here to access The World Gold Council “Where to Buy” listings…
All Things Considered – John’s Commentary
You will see a number of other bullion dealers listed in the U.S. on the World Gold Council website – all of whom have credible and sound business practices.
However, one thing we can assure you of, is that amongst the competing bullion dealers listed (most of whom we know), you will likely not experience the level of education and personal service from them that we provide for our current and prospective clients.
We have a principled approach from which we refuse to depart. Our commitment is to not focus on volume of sales, but instead on educating and equipping our clients, ultimately sourcing them the lowest premium bullion that suits their individual needs. This commitment has paid off in the volume sense, but that has simply been a byproduct of our service focus.
Action to take: Know who you are buying from. Our client referrals are the greatest source of new clients for us. By the time a referral reaches us, they have been “well briefed” by an existing client as to “why we are different”.
Quote of the day: “We are in a world of irredeemable paper money – a state of affairs unprecedented in history.” – John Exter
