Latest News- Precious Metals Market: Gold is expected to lead the Type segment during 2025-2029

The Precious Metals Market is being driven by Precious metals shine as safe havens amid economic turbulence

The Precious Metals Market is expected to grow at a CAGR of 6.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 105.3 billion. The precious metals market is experiencing a significant shift as Environmental, Social, and Governance (ESG) considerations increasingly influence business practices. Mining companies are adapting to sustainable and ethical standards, addressing environmental concerns through responsible mining processes, reduced carbon emissions, and reclamation projects. For instance, Newmont Corporation, a leading gold miner, prioritizes water management and biodiversity protection. Investor preference for ESG-compliant enterprises is driving capital towards companies demonstrating high ESG performance. Furthermore, MKS PAMP GROUP, a strategic precious metals partner, recently announced a partnership with Karo Sambhav to bolster e-waste recycling and recover precious metals and critical raw materials in India. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Precious metals shine as safe havens amid economic turbulence
• Growing use of precious metals in electronics, renewable energy, and medical sectors
• Rising middle-class populations

However, the market also witnesses some limitations, which are as follows:

• Environmental concerns regarding mining and extraction processes
• Presence of counterfeit products in e-retailing space
• Shifting regulations around mining, trading, and environmental standards

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Market Scope in Precious Metals Market Research Report

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Research Analysis Overview

The precious metals market encompasses Gold, Silver, Platinum, and Palladium, finding applications in various sectors. Jewelry and consumer electronics are major industries utilizing these metals. Platinum group metals, including Platinum and Palladium, are essential for catalytic converters in vehicles, reducing carbon emissions and environmental pollution. Solar panels and electric vehicles also rely on these metals for photovoltaics and sustainable technologies. The Silver Institute and World Gold Council represent the gold and silver industries, while the jewelry industry continues to be a significant consumer. Precious metals contribute to sectors like electrical and electronics, with uses in printed circuit boards, composite boards, and dental applications.

Market Research Overview

The global diversified metals and mining market encompasses businesses involved in the production or extraction of a range of metals and minerals, including non-ferrous metals such as gold, silver, platinum, palladium, lead, nickel, tin, titanium, zinc, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium, as well as salt, borate, phosphate rock, and other diversified mining operations. According to Technavio, the market size is determined by the consolidated revenue generated by these companies in the production and extraction of metals and minerals and their associated diversified mining activities.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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