Arun Sudhaman 26 Jul 2011 // 11:00PM GMT
LONDON--The global body charged with promoting gold has put a new seven-figure global brief up for pitch, as prices of the metal surge towards record levels.
The Holmes Report understands that five agencies are taking part in the new World Gold Council review, which does not affect MSLGroup’s existing status as the organisation’s global agency-of-record.
MSLGroup won the World Gold Council’s global AOR brief, worth upwards of £1m, at the end of 2009 - with the business led by Capital MSL in Europe, and MSLGroup in the US and Asia.
The new brief is understood to cover several international markets including the UK, Switzerland, Australia and the US. Fees, said one source involved in the process, are expected to nudge seven figures.
The pitch follows the appointment of Brenda Bates as the body’s director of communications last month. Bates previously headed comms at BPP, University College of Professional Education.
Based in the UK, the World Gold Council aims to boost demand for the metal from industry, consumers and investors, working across the financial, jewellery and technology sectors. The organisation’s mission also includes an active public affairs component.
The association’s 22 members account for roughly 60 percent of global corporate gold production, and include Barrick, AngloGold Ashanti, Newmont, Gold Fields and Goldcorp. Earlier this week, gold prices hit a record high of $1,624 per ounce, fuelled by its status as a safe investment amid continuing global economic uncertainty. Prices are expect to reach $2,000 by the end of the year.