Global Gold Market Driven by Restoration of Mines and Adoption of New Technology, Finds a New Study


Published on : May 22, 2018

Albany, New York, May 22, 2018: Rise in government investments in gold and restoration of non-functional mines has contributed to the growth of the global gold market. In addition to new initiatives in gold mining, there has been a surge in the implementation of advanced technological solutions which have impacted gold mining across regions. In its recently added report titled, ‘Global Markets for Gold’, Market Research Hub (MRH) provides crucial perspectives on the impact of recent market trends and technological developments on the growth of the market.

Gold mining companies and governments across regions are focusing extensively to lift bans on closed mines and restore mining. These initiatives have led the market to grow significantly. In a recent announcement, Barrick Gold Corporation, one of the fastest growing gold mining companis has confirmed about its agreement with government of Tanzania to lift the gold export ban on Barrick Corp’s Acacia Mining. Government of Tanzania will procure stakes in Barrick Gold Corporation mines and significant share in the revenues as well. This collaboration is expected to boost the growth of the gold market globally.    

In addition, current gold mining expeditions are enhanced by the application of novel technological solutions such as Wireless Technology, Drones, IoT, and AI among others. In order to gain accurate information about mining sites, to establish smooth communication networks, and to reduce accidents, among other functions, gold mining companies are extensively adopting modern technological aid to deliver optimum services to the end user. Underground telecommunication is a novel communication system that enhances communication at the site. Barrick Gold Corp's Cortez mine functions on Underground Telecommunication network for data procurement on resources and maintenance enabling hassle free mining.   

Gold Market: Segmentation

Vital insights presented in the report gives a detailed account of the industry and highlights key components that can have profound impact on the scope of growth of the industry. In this section the report outlines the key segments of the market, which are end use and region. On the basis of end use, the market is segmented as jewelry, bars and coins and technology. The report portrays a comprehensive outline about the market dynamics along with a precise market definition that provide the readers with valuable insights about the parameters that direct the market. Besides, the report also presents current trends and developments that are driving the market, along with the drivers that hamper customer’s purchase journey. Readers can gain cues from these information and formulate effective strategy that would help them to make advantageous investment decisions.

In addition to the segmentation, the report is further segmented in terms of various regions. On the basis of region, the global market is segmented as Eastern Europe, Western Europe, North America, South America, Asia-Pacific, Middle East, and Africa. Information presented in the report enlightens the readers on the influence of different strategies adopted by leading firms in different regions. On the basis of these information, market players and new entrants in the market can comprehend current developments and trends and strategize necessary plans.  

Key inferences included in the report provides relevant information on various strategies formulated by major companies and its influence on the customer’s purchase decisions. On the basis of the information offered in the report, leading companies and new market players can make precise analysis and core business decisions. Leading companies operating in the global market include Barrick Gold Corporation, New mont Mining Corporation, Zijin Mining Group, Ango Gold Ashanti, Kinross Gold Corporation and others

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