Dublin, Dec. 09, 2024 (GLOBE NEWSWIRE) -- The "Gold Bullion Market 2024" report has been added to ResearchAndMarkets.com's offering.
The gold bullion market size has grown rapidly in recent years. It will grow from $67.75 billion in 2023 to $76.58 billion in 2024 at a compound annual growth rate (CAGR) of 13%. The growth during the historic period can be attributed to several factors, lower interest rates, currency fluctuations, rising demand for gold as a safe-haven asset, economic uncertainty, and increased investment demand.
Asia-Pacific was the largest region in the gold bullion market in 2023.
The gold bullion market size is expected to see rapid growth in the next few years. It will grow to $125.72 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The anticipated growth during the forecast period can be attributed to several factors, persistent demand for gold in jewelry and industrial applications, rising interest from retail consumers, increasing adoption of gold jewelry among men, and evolving lifestyle choices.
Major trends expected to shape the forecast period include advancements in technology, inflation and interest rate fluctuations, improvements in mining technology, a growing focus on environmental, social, and governance (ESG) criteria, and changes in mining regulations.
The increasing demand for jewelry is expected to drive the growth of the gold bullion market. For example, data from the World Gold Council, a UK-based trade organization for the gold industry, revealed that global gold jewelry demand increased from 2,089 metric tons in 2022 to 2,093 metric tons in 2023. This growth led to an 8% rise in value, reaching a record US$131 billion. Thus, the increasing demand for jewelry is contributing to the growth of the gold bullion market.
Companies in the gold bullion market are focusing on innovative solutions, such as tokenized physical gold trading, to improve accessibility and liquidity for investors. For instance, in December 2023, HSBC Holding plc, a UK-based financial services company, introduced the HSBC Gold Token, a tokenized gold product for retail investors in Hong Kong. This development allows customers to buy fractional ownership of physical gold through digital tokens on a distributed ledger, providing a regulated and flexible investment option.
In November 2023, Newmont Corporation, a US-based gold mining and exploration company, acquired Newcrest Mining Limited for $16.8 billion. This acquisition enhances Newmont's portfolio by combining it with Newcrest's holdings, which include over half of the world's Tier 1 gold mines. The merger aims to optimize operations and improve sustainability practices across the newly formed entity. Newcrest Mining Limited is an Australian gold production company.
Research Scope
Markets Covered:
1) By Type: Gold Bars; Gold Bullion Coins
2) By Application: Information Technology (IT)-related Electrically Conductive Materials; Jewelry Materials; Dental Alloy Materials; Investment Commodities
3) By Distribution Channel: Online; Offline
Key Companies Mentioned: Zijin Mining Group Co. Ltd.; Perth Mint; Johnson Matthey; Mitsubishi Materials; Newmont Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $76.58 Billion |
| Forecasted Market Value (USD) by 2028 | $125.72 Billion |
| Compound Annual Growth Rate | 13.2% |
| Regions Covered | Global |
Companies Featured in this Research Report
- Zijin Mining Group Co. Ltd.
- Perth Mint
- Johnson Matthey
- Mitsubishi Materials
- Newmont Corporation
- Barrick Gold Corporation
- Shandong Gold Mining Co. Ltd.
- Agnico Eagle Mines Limited
- AngloGold Ashanti Ltd.
- PJSC Polyus
- Kinross Gold Corporation
- Goldcorp Inc.
- Royal Canadian Mint
- Fresnillo PLC
- Yamana Gold Inc.
- Randgold Resources Limited
- Eldorado Gold Corporation
- Alamos Gold Inc.
- APMEX Inc.
- Elemetal LLC
- Ohio Precious Metals
- Valcambi Suisse
- Argor-Heraeus
For more information about this report visit https://www.researchandmarkets.com/r/qef4ow
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