
World - Gold - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
You will receive a PDF copy of the report by email within 24 hours (Mon - Fri).
By clicking «Buy the Report», you agree to our Terms of Service, Privacy Policy and Licenses. We'll occasionally send you account related emails.
Political Uncertainty to Reverse Expected Downward Gold Price Trend
IndexBox has just published a new report: 'World - Gold - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
The gold price forecast subjects to a significant risk of uncertainty due to rising economic and political challenges. Gold is traditionally considered as a 'quiet harbor' for investors seeking to save their funds during crisis periods. Therefore, the demand for the metal is likely to increase, propelling the prices.
Last year, gold prices reached the highest level ever. According to World Bank and USGS data, the average gold price was estimated at $1800 per troy ounce in 2021, increasing by 1.7% compared to 2020. The price spike was triggered by surging demand while global production remained at the previous year's level. In 2022, gold prices were projected to ease slightly, dropping by near 1% due to the expected sufficient supply, but the dramatically risen political and economic uncertainty is likely to raise price forecast.
In Q1-Q3 2021, global consumption of gold in physical bars soared by 58% compared to the same period in 2020. Demand from industrial applications and jewelry grew by 16% and 49%, respectively. Consumption in electronics rose by 13%, and in official coins and medals and imitation coins by 6%.
Global gold mine output was approximately 3.1K tonnes, remaining nearly unchanged against the previous year. China keeps holding the status of the leading producer, accounting for 12% of world gold production.
Global Gold Production by Country
The countries with the highest volumes of gold production in 2021 were China (370 tonnes), Australia (330 tonnes) and Russia (300 tonnes), with a combined 32% share of global volume. The U.S., Canada, Ghana, South Africa, Uzbekistan, Mexico, Indonesia, Sudan, Peru and Brazil lagged somewhat behind, together comprising a further 36%.
Source: IndexBox Platform
This report provides an in-depth analysis of the global gold market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, February 22nd, 2022 @ 04:00 pm ET
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, February 8th, 2022 @ 04:00 pm ET
Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!
Tuesday, January 25th, 2022 @ 04:00 pm ET