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Gold Prices Hit $3,578 as Tokenized Gold Market Cap Tops $2.6 Billion

The World Gold Council and Linklaters introduced a white paper outlining fully digitized gold and Pool Gold Interest (PGI) to modernize the gold market.

Summary

International gold prices rose to $3,578 per ounce on September 3, while the tokenized gold market capitalization exceeded $2.6 billion. The World Gold Council, in partnership with law firm Linklaters, released a white paper that presented the concepts of fully digitized gold and Pool Gold Interest (PGI) as part of efforts to modernize the global gold market.

Terms & Concepts
  • Tokenized Gold: A digital representation of physical gold recorded on a blockchain, enabling fractional ownership and easier trading.
  • Fully Digitized Gold: A concept proposed to transition traditional gold markets into blockchain-based digital systems for enhanced efficiency and transparency.
  • Pool Gold Interest (PGI): A structure introduced in the white paper that aggregates investor holdings into a digital gold pool, providing simplified access and management.