Gold Bullion Market Size, Share, Growth Analysis, By Type(Gold bar, Gold Coin), By Distribution Channel(Online, Offline), By Region - Industry Forecast 2024-2031

Gold Bullion Market Driver

• Economic uncertainty: There is a lot of economic uncertainty in the world today, and gold is seen as a safe haven asset. When investors are worried about the economy, they tend to buy more gold.
• Geopolitical tensions: Geopolitical tensions around the world have been on the rise in recent years, and this has increased demand for gold as well. Gold is seen as a safe haven asset during times of political turmoil.
• Central bank buying: Central banks around the world have been buying more gold in recent years, which has helped drive up demand for gold bullion market. Many central banks see gold as a way to diversify their reserves and protect against economic uncertainty.
• Jewelry demand: Gold jewelry remains popular around the world, especially in Asia where demand is very strong. This helps support prices even when other types of demand are weak.
• Industrial uses: Gold is used in a variety of industries including electronics, dentistry, and aerospace engineering. As industrial activity increases, so does demand for gold.
• ETFs and other investments: Exchange-traded funds (ETFs) that invest in gold

Gold Bullion Market Restraint

• Global economy is still shaky, and people are not spending as much money as they used to.
• Federal Reserve is printing more money, which is pushing up the value of other currencies and diminishing the purchasing power of gold
• Technology is advancing rapidly, and people are using more electronic options for transactions. In fact, increased number of vendors have been targeting the consumers through digital media and creating scope for buying digital gold, which is more likely to have a negative impact on the global gold bullion market in the years to come.