New Delhi, Dec. 17 -- Gold's growing prominence in global portfolios is being driven by deep structural anxieties in the world economy rather than short-term geopolitical events, David Tait, CEO of the World Gold Council, said on Wednesday at Indian Economic Conclave here.
Drawing on his three-and-a-half decades as a trader in global investment banks, Tait said it was ironic that he never traded gold during his career. Structural flaws in the gold market such as lack of transparency, liquidity concerns and limited institutional participation kept it on the sidelines for many banks.
His current role, he said, is about fixing precisely those issues and repositioning gold as a mainstream financial asset.
According to Tait, the biggest drive...