Access to Physical Gold Coming the 1.6-B Muslims on Our Planet

Access to Physical Gold Coming the 1.6-B Muslims on Our Planet

Access to Physical Gold Coming the 1.6-B Muslims on Our Planet

$GLD

A new Sharia Gold Standard will be introduced this month to the 1.6-B Muslims on our Planet.

Until now, aboout 25% of the world’s citizens have been denied access to Gold under some existing conditions of Islamic Law, which controls all financial and personal decisions in a strict Muslim’s life.

That being the case, there were few Gold investment products or services available to Muslims.

As a result, says Aram Shishmanian, CEO of the World Gold Council (WGC), “there is a lack of Islamic Gold-based products globally.”

That will change with the introduction of the new Sharia Gold Standard, which was hammered out through the cooperative efforts of the AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions), the World Gold Council (WGC) and Amanie Advisors.

The Islamic Gold Standard “will provide guidance from a Sharia perspective on the usage of gold in financial and investment transactions for Islamic financial institutions and participants,” said the WGC.

The practical effect of the new gold standard is that it will make physical gold much more accessible to 25% of the planet’s population, and that could be a huge new source of demand for physical Gold.

HeffX-LTN Analysis for GLD: Overall Short Intermediate Long
Very Bearish (-0.58) Very Bearish (-0.55) Very Bearish (-0.73) Bearish (-0.46)

By Mike Fuljenz

Paul Ebeling, Editor

The following two tabs change content below.

Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

Latest posts by Paul Ebeling (see all)

You must be logged in to post comments :  
CONNECT WITH