Growing Demand for Gold from Diverse Industries and Shooting Prices to Propel Global Gold Market

Published By : 21 Sep 2016 | Published By : QYRESEARCH

Gold being one of the precious metals across the globe is used in diverse industries, thanks to the features it offers. Gold is widely used for making jewelry owing to the high level of ductility and malleability it bears. In addition to jewelry, gold is considered as a very safe option for investment purpose. These factors are expected to fuel the growth of the global gold market in the next few years. Some of the key end use segments of the global gold market are investment, jewelry, and others. 

Growing Demand for Gold to Strengthen Competition among Key Players in Global Gold Market

The global gold market is high fragmented in nature with the presence of several players operating around the world. Some of the key players currently operating in the market are Barrick Gold, New Gold Inc., Harmony Gold Mining Company Limited, Freeport McMoRan Copper & Gold Inc., Newmont Mining Corporation, Gabriel Resources Limited, Goldcorp Inc., AngloGold Ashanti, Newcrest Mining Limited, Gold Fields Limited, and Jinshan Gold Mines Inc. The fluctuating prices of gold is expected to benefit these players in the near future.

Furthermore, the use of advanced technology in gold mines for extraction is estimated to contribute significantly towards the development of the global gold market in the coming few years.

Growing Gold Prices to Encourage Purchases for Investment Purpose

Gold has been considered as a good and safe option for investment owing to the rising prices. This is one of the key factors expected to augment the growth of the global gold market in the next few years. In addition, political instability in several developing nations is projected to drive the global market in the near future. The use of gold in electronic and other industries is anticipated to encourage the growth of the global gold market.

On the other hand, diminishing rankings of gold ore, frequent strikes by the gold mine workers, and technical issues related to gold mining are some of the primary reasons expected to restrict the growth of the global gold market in the next few years.

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