GITNUX MARKETDATA REPORT 2024
Precious Metal Market Trends Statistics
Precious metal market trends indicate a steady increase in demand and prices, driven by economic uncertainties and high inflation fears.
In this post, we will explore key statistics and trends in the global precious metal market. From the market value projections to specific metal demands and regional dynamics, we will delve into the data that shapes this lucrative industry. Join us as we uncover the insights driving the precious metal market forward.
Statistic 1
"In 2020, the global precious metal market was valued at approximately $193.3 billion."
Statistic 2
"By 2027, the global precious metal market is projected to reach $362.1 billion."
Statistic 3
"Gold took up nearly 44.5% market share of the precious metal market in 2020."
Statistic 4
"The demand for Platinum in the Automotive industry is projected to reach 3.0 million ounces by 2022."
Statistic 5
"The Asia Pacific region is the largest precious metal market, accounting for nearly 52% of the global market."
Statistic 6
"Since COVID-19 outbreak, Gold market witnessed a 19% average price increase in the first 10 months of 2020."
Statistic 7
"The monetary demand for gold skyrocketed to 30% in 2019 from the 2010's average of 10%."
Statistic 8
"Industrial segment of Silver accounts for 56% in 2020."
Statistic 9
"The demand for Platinum in Jewelry has plunged by 41% in the eight years between 2011 to 2019."
Statistic 10
"In 2020, the price of palladium surged by over 53%."
Statistic 11
"The yearly average price of palladium reached an all-time high of $2319.03 per ounce in 2020."
Statistic 12
"The demand of Rhodium, a precious metal majorly used in automotive catalysts, soared by 45% in China in 2020."
Statistic 13
"Palladium has been able to maintain a decade-long deficit and the difference is projected to be 1.9 million ounces in 2021."
Statistic 14
"There was a 19% decrease in the Platinum supply due to COVID-19 disruptions."
Statistic 15
"Gold's dominant use in technology fell to 7.5% in 2020."
Statistic 16
"Silver production was about 25,000 tons in 2020, which was a decrease compared to the previous two years."
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