3K MT
Global mining production over 2023
59K MT
Available gold reserves globally
$100B
GDP gold mining industry contribution
$230B
GDP gold jewellery market contribution
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As of May 2024, the price of gold has reached approximately $2,402.60 per troy ounce. This represents a significant increase from the previous year, where the price was around $1,960.30, marking an increase of over 22% year-on-year.
Global gold demand remained buoyant, reaching 4,041 metric tons, driven by investment, jewellery and technological applications. Against this backdrop, gold prices surged, reaching new heights, with the market witnessing an all-time high of over $2,000 per ounce. The soaring popularity of gold-backed exchange-traded funds (ETFs) was evident, with holdings surpassing $200 billion. Moreover, the gold mining industry’s contribution to global GDP exceeded $100 billion, while the gold jewellery market flourished, valued at over $230 billion.
Analysts project that the price of gold will continue to rise, driven by persistent economic uncertainties, geopolitical tensions, and ongoing inflationary pressures. For instance, gold prices increased from around $1,800 per ounce in 2023 to approximately $2,400 per ounce in 2024, reflecting its enduring appeal as a safe-haven asset.
Emerging economies, particularly in Asia, are expected to drive increased demand for gold. As middle-class populations grow and disposable incomes rise, demand for gold jewellery and investments in these regions is projected to increase, supporting higher global gold prices.
Emerging economies, particularly in Asia, are expected to drive increased demand for gold. As middle-class populations grow and disposable incomes rise, demand for gold jewellery and investments in these regions is projected to increase, supporting higher global gold prices.
Explore the profound impact of gold mining with these compelling statistics.
From driving the economic growth and infrastructure development to supporting millions of livelihoods and fostering environmental stewardship, the gold mining industry plays a pivotal role in shaping a sustainable future for communities worldwide.
$2B
The gold mining industry invests over $2 billion annually in environmental protection measures, including reclamation efforts and biodiversity conservation.
15M
The gold mining industry supports over 15 million direct and indirect jobs globally, providing livelihoods for communities in mining regions.
40M
The artisanal and small-scale gold mining sector provides livelihoods for over 40 million people worldwide, with responsible mining initiatives supporting sustainable development in rural communities.
$1B
Responsible gold mining companies invest over $1 billion annually in community development initiatives, including education, healthcare, and sustainable livelihood programs.
$100B
Gold mining catalyses infrastructure projects, with investments exceeding $100 billion in roads, power lines, and water infrastructure in mining regions.
70+
Gold is mined in over 70 countries worldwide, the annual yield of gold reaches a staggering 3,000 metric tons, fuelling economies and shaping markets worldwide.
“Gold is the embodiment of timeless wealth, the currency of kings, and the anchor of stability in a sea of uncertainty.”
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Gold’s value transcends mere economic utility, embodying a timeless symbol of wealth, stability, and resilience. Its allure spans centuries, revered by civilisations past and present as an emblem of prestige and power.
Beyond its intrinsic beauty, gold’s scarcity and enduring nature contribute to its inherent value. As a finite resource with limited supply, it serves as a bulwark against the erosive forces of inflation and economic instability, offering a safe haven for investors seeking refuge in turbulent times.
Its versatility extends beyond adornment, finding indispensable applications in industry, technology, and medicine, underpinning its relevance in the modern world. From the vaults of central banks to the jewelry boxes of individuals, gold’s universal appeal as a store of wealth and a hedge against uncertainty cements its status as a cornerstone asset in the global economy.
In essence, gold’s value stems from a blend of its inherent characteristics, historical importance, practical uses in industry, and its function as both a repository of wealth and a safeguard against economic unpredictability.
Gold's value tends to increase during times of uncertainty or market volatility, providing a safe haven for investors seeking to preserve their wealth.
Throughout history, gold has been revered as a symbol of wealth, power, and prestige. It's enduring allure and cultural significance contribute to its intrinsic value.
Gold has practical applications in various industries, including electronics, aerospace, and medicine. Its unique properties, such as excellent conductivity and resistance to corrosion, make it valuable in manufacturing processes.
Gold is relatively rare and difficult to extract from the earth's crust. Its scarcity adds to its value, as demand often outstrips supply, particularly in times of high demand.
Gold enjoys a widespread demand across the global, not only as a monetary asset but also for jewllery, investment purposes, and industrial use. This broad demand base supports its value.
Central banks hold significant reserves of gold as part of their foreign exchange reserves. The confidence placed in gold by central banks further validates its value as a monetary asset.
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Decades of Appreciation: Over the past 50 years, gold has demonstrated significant price appreciation. For instance, gold prices have risen from around $35 per ounce in 1970 to over $2,400 per ounce in 2024. This long-term upward trend reflects gold’s ability to maintain and increase its value over time, providing robust returns for long-term investors.
Resilience Through Economic Cycles: Gold has shown remarkable resilience through various economic cycles, including recessions, inflationary periods, and market crashes. During the 2008 financial crisis, for example, while global stock markets plummeted, gold prices surged, highlighting its role as a reliable store of value during times of economic instability.
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Discover the Visionaries Fueling Own Gold's Success — Meet Our Co-Founders. With a relentless pursuit of excellence and a deep-rooted commitment to ethical practices, they spearhead our efforts in redefining the gold investment sector. Learn about their diverse expertise, unwavering values, and forward-thinking vision, driving us towards a future of unparalleled investment opportunities
Carmen’s reputation precedes her, celebrated for her exceptional aptitude in nurturing and expanding multi-million-pound enterprises within the finance and investment sphere. At Own Gold, she orchestrates a myriad of investment ventures, implementing strategies that capitalise on lucrative opportunities. Her adeptness in driving unparalleled growth and success for the company and its investors is unmatched.
Lauren embodies seasoned leadership, boasting a wealth of experience in orchestrating and optimising operational endeavours on a global scale. Throughout her tenure, she has exhibited an unwavering commitment to steering the company’s operational facets, strategically safeguarding its assets, and crafting robust frameworks that lay the foundations for sustainable financial growth for both partners and investors alike.
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