The World Gold Council (WGC), an international organization supported primarily by the gold mining industry, has the goal of increasing public awareness of gold and the demand for gold. In October 2002, James E. Burton was appointed head of the World Gold Council (WGC).
Despite not having experience in the gold industry, Burton engineered several programs that have had great impact on the demand for gold, the most significant being exchange traded funds, ETFs as they are commonly known. Burton also encouraged and spearheaded the massive advertising that we now see for gold jewelry.
Although ETFs are not our recommended way of “owning” gold, they have increased the demand for among investors who choose not to physically handle gold. I put “owning” in quotes because when you buy ETFs you do not “own gold” but shares in a fund that owns gold. ETFs are another form of “paper gold.” Regardless, ETFs have impacted the gold market in a positive way.
An interview with Burton has been posted on resourceinvestor.com. It’s an informative read for gold investors who want to get a better understanding of the gold market.