[ad_1]
PUNE, India, Jan 21, 2022 (GLOBE NEWSWIRE) — Global precious metals market The size is expected to reach $403.08 billion in 2028 from $275.4 billion in 2021, while growing at a CAGR of 5.6% between 2021 and 2028. in its title “Precious Metals Market 2021-2028According to Fortune Business Insights™, the market size in 2020 is $261.94 billion.
Growing investment in commodities such as gold due to its low risk factor compared to other investments such as stocks, bonds or real estate is driving the market. Additionally, gold, silver, and platinum are the metals of choice for producing jewelry due to their luster and malleability. Hence, increasing consumer demand for jewelry has led to market growth.
COVID-19 Impact
The pandemic has caused significant damage to the market due to the closure of mining and manufacturing units. In addition, the lack of labor has also affected the market, resulting in a drop in demand from industrial and jewelry applications. However, investment in precious metals has seen a significant uptick during the pandemic. For example, in a report by the World Gold Council, global gold investment increased by 40% in 2020 compared to 2019.
Get a sample PDF brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/precious-metals-market-105747
Fortune Business Insights™ lists all precious metals market companies currently working to reduce the impact of the Covid-19 pandemic on the market:
- Newmont Corporation (USA)
- Barrick Gold Corporation (Canada)
- AngloGold Ashanti Limited (South Africa)
- Kinross Gold Corporation (Canada)
- Newcrest Mining Pty Ltd (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
What does the report provide?
The market report provides a detailed analysis of several factors such as key drivers and restraints affecting growth. Furthermore, the report provides insights into regional analysis covering different regions, contributing to the growth of the market. It includes the competitive landscape involving leading companies…
The full story is available on Benzinga.com
[ad_2]
Source link
