Gold Bullion Market to Surpass 131.55 Billion by 2030 Drives Due to Economic Uncertainty
SkyQuest projects that the gold bullion market will attain a USD 131.55 billion value by 2030, with a CAGR of 12.10% over the forecast period (2023-2030). Economic uncertainty drives the demand for gold bullion as a safe-haven investment. During periods of economic instability or downturns, investors seek the stability and value preservation offered by gold, contributing to the growth of the gold bullion market.
Westford, USA, Aug. 20, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, central banks worldwide diversify their reserves by holding gold bullion, aiming to reduce reliance on traditional currencies and mitigate economic risks. The gold bullion market experiences a positive impact as these institutions strategically allocate funds to gold, increasing the demand for the precious metal.
Browse In-Depth TOC on the “Gold Bullion Market”
- Pages – 157
- Tables – 61
- Figures – 75
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Gold’s cultural and ornamental value continues to drive its demand, especially in regions where gold holds cultural significance or is used in jewelry and decorations. As consumer spending and preferences for gold jewelry rise, the gold bullion market benefits from the steady demand for gold as a luxury and decorative item.
Prominent Players in the Gold Bullion Market
- PJSC Polyus
- Barrick Gold Corporation
- Newmont Corporation
- AngloGold Ashanti Ltd.
- Kinross Gold Corporation
- Newcrest Mining Limited
- Goldcorp Inc.
- Agnico Eagle Mines Limited
- Sibanye-Stillwater
- Harmony Gold Mining Company Limited
- Randgold Resources Limited
- Cia de Minas Buenaventura S.A.A.
- Gold Fields Limited
- Shandong Gold Mining Co., Ltd.
- Zijin Mining Group Co., Ltd.
- Fresnillo PLC
- Yamana Gold Inc.
- Kinross Gold Corporation
- Alamos Gold Inc.
- Eldorado Gold Corporation
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Online Segment is Expected to Grow the Market Due to Convenience and Accessibility
Online segment in the gold bullion market is witnessing rapid growth due to the convenience, accessibility, and transparency of online platforms. Increasing digitalization and e-commerce trends have led to a surge in online gold purchases, attracting a broader range of investors looking to buy gold bullion conveniently through digital channels.
During economic uncertainties, North America is emerging as the fastest-growing region in the gold bullion market due to increased investment in precious metals as a safe haven. Demand for gold bars and coins is rising among investors and collectors, reflecting the region’s growing awareness of gold’s role as a hedge against market volatility.
Gold Bars Segment is Expected to Dominate the Market Due to Popularity Among Investors and Central Banks
Gold bars remain dominant in the global gold bullion market due to their widespread popularity among investors and central banks. The tangible and universally recognized nature of gold bars and ease of storage and liquidity drive their demand. Investors value gold bars as a reliable form of investment and a tangible store of value in times of economic uncertainty.
Asia Pacific emerges as a dominant player in the gold bullion market due to its cultural affinity for gold, strong demand from individual investors, and central bank purchases. Economic growth, rising middle-class population, and the historical significance of gold as a store of value contribute to its dominance in this region.
A comprehensive analysis of the major players in the gold bullion market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in the Gold Bullion Market
- In 2022, Gold Fields (GFI) unveiled an agreement to acquire Yamana Gold (AUY) of Canada in a deal valued at $6.7 billion.
- Agnico Eagle Mines (AEM) and Kirkland Lake Gold recently completed a merger valued at $10.46 billion.
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Key Questions Answered in Gold Bullion Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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