Relevant:
- Islamic finance set to change gold market
- Gold Standard in Islamic Finance ‘Almost There'
- Gold Spikes As World Gold Council Says Gold Demand Surges 36% In Q2, Sees Ongoing Demand Out Of China And Europe
- EU Gold Investment Demand Surges 135% - World Demand Up 6% in Q3 2011
- China's HK gold trade hits new annual record, but where's it all coming from?
2016-11-14 — businessinsider.com
A "Sharia Gold Standard" -- which will clarify and streamline Islamic gold-investing rules -- is on track to be implemented by the end of the year. This means that the approximately 100 million active Muslim investors will soon have gold as an investment option.
At current prices, if Islamic financial institutions allocate to gold just 2 percent of the assets they manage, it would equal roughly 1000 tonnes of extra demand.
Standard and Poor's projects the industry could reach US$5 trillion by 2020. Some industry forecasts say that the number will be as much as US$6.5 trillion in four years.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
