World Gold Council Plans Digital Gold to Transform $900 Billion Market

The World Gold Council plans to create a digital form of gold to modernize London's $900 billion physical gold market, as reported by the Financial Times.

Digital gold, termed "pooled gold interests" (PGIs), will enable fractional ownership of gold bullion.
Testing with commercial participants like banks and trading houses is set for Q1 2024.
CEO David Tait highlighted the need for digitization to expand gold's market potential.
Gold reached a record price over $3,550 per ounce this week, doubling in value over the past two years due to its status as a safe haven asset amid geopolitical tensions.