Published By : 07 Jun 2016 | Published By : QYRESEARCH
Gold is considered as one of the most precious metals worldwide and is majorly used for forming jewelry, due to its high malleability and ductility. In addition, gold is considered as a safe option for investments in times of wars and high inflation. Thus, gold is always in high demand in almost all parts of the world. Currently, the global gold market is observing that gold is being overvalued, resulting in escalating prices.
In the last few years, the events of discord, wars, and strife have become very common in Middle Eastern economies, including Syria, several African countries including Tunisia, Egypt, Libya, and Eastern European countries including Ukraine. As a result, the investment in gold has increased substantially fuelling the growth of the global gold market.
The global gold market can be classified on the basis of its end use into the following:
The shooting gold prices worldwide is one of the key factors projected to augment the growth of the market in the next few years. The increasing prices are encouraging the consumers to buy more gold in order to gain the advantage in long term investments. In addition, the political instability is also expected to fuel the growth of the market in the near future. Moreover, the increasing demand for gold in the electronics industry is also expected to fuel the growth of the global gold market in the next few years.
On the flip side, the recurring strikes by the gold mine workers, diminishing rankings of gold ore, and technical concerns associated with gold mining are some of the key factors anticipated to curb the growth of the global gold market in the coming few years. Nevertheless, the growing application of gold in diverse industries is further anticipated to create potential opportunities for the major players.
The growing demand for gold has benefitted the players operating in this market. Some of the leading players are Freeport McMoRan Copper & Gold Inc., AngloGold Ashanti, Newcrest Mining Limited, Harmony Gold Mining Company Limited, Barrick Gold, Newmont Mining Corporation, Gold Fields Limited, New Gold Inc., Goldcorp Inc., Gabriel Resources Limited, and Jinshan Gold Mines Inc.