Gold is a precious
metal and has high ductility as well as malleability, mainly used as jewellery
and for investment purposes globally. Gold is currently oversold in a bearish
market attributed to its escalating high prices. Gold is considered as the safest
bet for investment in devious times of war and high inflation with currency
fluctuations. Recent rebellions and war events in the Middle Eastern countries
of Tunisia, Libya, Egypt, Syria and now Ukraine has led to rise in investments
in bullion. This has caused overselling of gold and thus rapid increase in
prices worldwide.
Rising prices are
expected to be a major factor driving the global gold market as more and more
consumers are purchasing gold as a mean of long terms investments. Further,
political instability and confidence over bullion, as a secure investment with
high returns, aid in generating demand for gold. However, strikes, technical
issues and diminishing ore grades might hamper the market growth in the coming
years. Global gold supply is a mixture of mined gold, scrap recovery and
central-bank supply. More than half of gold supply worldwide comes from mined
gold. China is the largest producer of mined gold. It overtook South Africa in
terms of gold production volume in 2007.
Gold market can be
segmented based on its end-use into three segments as jewellery, investment and
others. Jewellery market saw a considerable decline between 2009 and 2011. The
consumers had liquidated most of their jewellery during this period owing to
the economic downturn in 2008-09. However, the market saw a rise again in 2012
due to economic recovery leading to gold’s rising prices. Jewellery market in
China has trebled over the last decade and is likely to continue the growth
trend with rising disposable income of the local population. Chinese market
accounted for more than a quarter of the global jewellery market in 2013
according to the World Gold Council. Gold is considered as a safe haven for
investment which further aids the market growth.
Asia Pacific is the
leading producer as well as consumer of gold with major consumption in South
East Asian countries. High growth in India, China and South East Asian
countries coupled with rising disposable income of the general population is
the major driver for the growth of the market, in the region. Further,
industrial demand for gold especially in the electronics industry is expected
to boost market growth in Asia Pacific. China is leading the market and is
projected to increase its consumption to aid its high growth. The Chinese
middle class urban population with rising disposable income has also increased
investment in bullion as a quickly liquefiable asset substituting savings in
the banks. Europe is the fastest growing region in terms of gold production
with major production from Russia. Leading gold producing countries in the
world include Australia, Brazil, Canada, Indonesia, Mexico, Peru, Papua New
Guinea, Russia, the US, and Uzbekistan.
Some of the key players
in the gold market include AngloGold Ashanti, Barrick Gold, Goldcorp Freeport
McMoRan Copper & Gold Inc., Gold Fields Limited, Goldcorp Inc., Gabriel
Resources Limited, Harmony Gold Mining Company Limited, Jinshan Gold Mines
Inc., New Gold Inc., Newcrest Mining Limited, and Newmont Mining Corporation
among others.
More Report on Consumer Goods Market: http://www.transparencymarketresearch.com/consumer-goods-market-reports-7.html
This
research report analyzes this market depending on its market segments, major
geographies, and current market trends. Geographies analyzed under this
research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming
years
This
report is a complete study of current trends in the market, industry growth
drivers, and restraints. It provides market projections for the coming years.
It includes analysis of recent developments in technology, Porter’s five force
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