United Kingdom - Gold - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGold Price in the UK - 2023
Contents:
- Gold Price in the UK (CIF) - 2023
- Gold Price in the UK (FOB) - 2023
- Gold Imports in the UK
- Gold Exports in the UK
Gold Price in the UK (CIF) - 2023
In May 2023, the average gold import price amounted to $64.2M per ton, with a decrease of -1.7% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 when the average import price increased by 8.3% m-o-m. As a result, import price reached the peak level of $65,295 per kg, and then declined in the following month.
Average prices varied noticeably amongst the major supplying countries. In May 2023, the countries with the highest prices were Canada ($64.7M per ton) and Uzbekistan ($64.7M per ton), while the price for Mexico ($61.4M per ton) and Hong Kong SAR ($63.3M per ton) were amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was attained by Australia (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Gold Price in the UK (FOB) - 2023
The average gold export price stood at $64.4M per ton in May 2023, stabilizing at the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average export price increased by 7.1% against the previous month. As a result, the export price attained the peak level of $65,134 per kg, and then dropped slightly in the following month.
Average prices varied noticeably for the major export markets. In May 2023, the countries with the highest prices were Hong Kong SAR ($65.4M per ton) and Switzerland ($64.4M per ton), while the average price for exports to the United States ($63.3M per ton) and the United Arab Emirates ($64.1M per ton) were amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.
Gold Imports in the UK
For the third consecutive year, the UK recorded decline in purchases abroad of gold, which decreased by -17.6% to 766 tons in 2022. Over the period under review, imports saw a sharp downturn. The smallest decline of -1.3% was in 2020.
In value terms, gold imports contracted dramatically to $41.8B in 2022. In general, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of 25% against the previous year. As a result, imports attained the peak of $88.3B. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Gold in the UK (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 11.0 | 11.2 | 9.8 | 10.4 | -1.9% |
| United States | 11.1 | 12.1 | 8.5 | 7.0 | -14.2% |
| Kazakhstan | N/A | 0.1 | 3.5 | 6.6 | 712.4% |
| Philippines | N/A | N/A | N/A | 3.4 | 0% |
| Switzerland | 18.6 | 7.6 | 4.0 | 2.8 | -46.8% |
| Russia | 5.2 | 17.0 | 15.2 | 2.3 | -23.8% |
| France | N/A | N/A | N/A | 2.0 | 0% |
| South Africa | 3.8 | 3.4 | 2.5 | 0.4 | -52.8% |
| Hong Kong SAR | 2.2 | 12.5 | 0.6 | N/A | -47.8% |
| Australia | 8.4 | 8.2 | 1.0 | N/A | -65.5% |
| Others | 10.4 | 16.3 | 8.7 | 6.9 | -12.8% |
| Total | 70.7 | 88.3 | 53.7 | 41.8 | -16.1% |
Top Suppliers of Gold to the UK in 2022:
- Canada (183.4 tons)
- United States (121.5 tons)
- Kazakhstan (115.4 tons)
- France (63.3 tons)
- Philippines (59.1 tons)
- Switzerland (51.1 tons)
- Russia (42.5 tons)
- South Africa (6.9 tons)
- Hong Kong SAR (0.7 tons)
- Australia (0.6 tons)
Gold Exports in the UK
In 2022, exports of gold from the UK soared to 1.3K tons, picking up by 76% on 2021 figures. In general, exports showed significant growth. The growth pace was the most rapid in 2021 when exports increased by 89%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.
In value terms, gold exports soared to $72.7B in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 93% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Gold in the UK (Billion USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Switzerland | 6.1 | 11.5 | 33.6 | 27.6 | 65.4% |
| China | 8.8 | 0.5 | N/A | 17.5 | 25.8% |
| Hong Kong SAR | 0.3 | 0.7 | 0.8 | 15.2 | 270.0% |
| United Arab Emirates | 1.1 | 1.0 | 0.6 | 5.2 | 67.8% |
| Germany | 0.8 | 2.2 | 2.4 | 2.1 | 37.9% |
| Singapore | 0.2 | 0.2 | 2.1 | 1.6 | 100.0% |
| Austria | N/A | 0.9 | 0.4 | 1.2 | 15.5% |
| Turkey | 1.2 | 1.1 | 0.2 | 0.9 | -9.1% |
| United States | 2.4 | 1.1 | N/A | 0.1 | -65.3% |
| Azerbaijan | 2.2 | N/A | 0.1 | N/A | -78.7% |
| Others | 0.1 | 2.3 | 1.4 | 1.2 | 128.9% |
| Total | 23.3 | 21.4 | 41.4 | 72.7 | 46.1% |
Top Export Markets for Gold from the UK in 2022:
- Azerbaijan (undefined tons)
- Switzerland (483.2 tons)
- China (300.2 tons)
- Hong Kong SAR (260.2 tons)
- United Arab Emirates (90.6 tons)
- Germany (36.8 tons)
- Singapore (29.0 tons)
- Austria (20.7 tons)
- Turkey (16.5 tons)
- United States (2.1 tons)
This report provides an in-depth analysis of the gold market in the UK. 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 2030.
Product coverage:
- Prodcom 24412030 - Gold, unwrought or in powder form for non-monetary use (including plated with platinum)
- Prodcom 24412035 -
- Prodcom 24412040 -
- Prodcom 24412050 - Gold, in semi-manufactured forms for non-monetary use (including plated with platinum) (excluding unwrought or in powder form)
- Prodcom 24412070 - Monetary gold (including gold plated with platinum)
Country coverage:
- United Kingdom
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the UK
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
-
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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