PUNE, India, Sept. 22, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights™, the is global precious metals market Size is expected to gain momentum, reaching $403.08 billion from $275.40 billion in 2021-2028 and showing a CAGR of 5.6% between 2021-2028. In their report entitled “Precious Metals Market, 2021-2028,” Fortune Business Insights™ mentions that the market was $261.94 billion in 2020.
The increasing investments in a commodity like gold due to its low risk factor compared to other investments like stocks, bonds or real estate are fueling the market. In addition, gold, silver and platinum are the most preferred metals for making jewelry due to their luster and malleability. Therefore, increasing consumer demand for jewelry leads to market growth.
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List of major players profiled in the market report
- Newmont Corporation (USA)
- Barrick Gold Corporation (Canada)
- AngloGold Ashanti Limited (South Africa)
- Kinross Gold Corporation (Canada)
- Newcrest Mining Limited (Australia)
- Gold Fields Limited (South Africa)
- Freeport-McMoRan (USA)
- PJSC Polyus (Russia)
- Anglo American Platinum Limited (South Africa)
- Impala Platinum Holdings Limited (South Africa)
- other players
Scope and segmentation of the report:
| report coverage | details |
| forecast period | 2021-2028 |
| Forecast CAGR | 5.6% |
| Value prognosis 2028 | $403.08 billion |
| base year | 2020 |
| Precious metals market size in 2021 | $275.40 billion |
| Historical data | 2017-2019 |
| number of pages | 160 |
| Covered Segments | By type, application and region |
| Growth drivers of the precious metals market | High demand from the electrical and electronics industry is expected to drive market growth |
| Asia Pacific will dominate, supported by increased gold consumption |
Effects of COVID-19
The pandemic caused significant damage to the market as mining and manufacturing units were shut down. In addition, the…
