The global gold market's estimated value of around $12 trillion. It consists of both physical gold (bars, coins, jewelry) and financial gold (futures, ETFs, derivatives). Every year, about 3,000 tons of gold are mined, contributing to the total gold supply. Recycling also plays a significant role in maintaining supply levels. The demand for gold is driven by factors like investment (gold-backed securities and coins), central bank reserves, and industrial uses (electronics, dentistry).
Gold is also highly regarded as a hedge against inflation, geopolitical instability, and currency fluctuations. It is usually a safe haven for investors. The market is influenced by global economic conditions, central bank policies, and investor sentiment. Gold is primarily traded in major financial hubs such as New York, London, and Shanghai. Its price is determined by supply and demand dynamics and international economic developments. The current spot price of gold is US$ 2,927.90 per ounce