Gold Market Size Worth USD 164.51 Million tons by 2030, Growing at 3.72% CAGR on Rising Jewelry and Investment Demand

Mordor Intelligence has published a new report on the "Gold Market," offering a comprehensive analysis of Size, Share, Trends, Growth Drivers, and Future projections.

The gold market is valued at USD 137.05 Million tons in 2025 and is projected to reach USD 164.51 Million tons by 2030, registering a CAGR of 3.72% during the forecast period. Gold maintains its status as both a safe-haven asset and a consumer product, playing a vital role in jewelry, investments, and central bank reserves. The dual nature of gold ensures stable long-term demand, reinforced by cultural traditions, portfolio diversification strategies, and reserve management by monetary authorities.

Growth in the market is driven by increasing investment in gold-backed products, rising consumer demand in Asia-Pacific, and central bank efforts to hedge against economic and geopolitical risks. Meanwhile, industrial applications in electronics and medical devices, though smaller in scale, contribute additional value to the global gold industry.

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Key Trends in the Gold Market

Strong Jewelry Consumption

Jewelry remains the largest source of gold demand, particularly in India and China, where gold holds deep cultural significance. Seasonal festivals, weddings, and cultural practices ensure steady jewelry purchases. Even as alternative luxury products emerge, gold jewelry continues to dominate global consumption.

Investment as a Hedge Against Uncertainty

Gold's reputation as a store of value strengthens its demand in times of economic uncertainty. Exchange-traded funds (ETFs), bullion, and coins allow investors to access gold without physical storage challenges. Fluctuations in equity markets and currencies are pushing institutional and retail investors to diversify portfolios with gold assets.

Central Bank Purchases Bolstering Reserves

Central banks worldwide are increasing gold holdings to reduce reliance on foreign currencies and mitigate risks from market volatility. This consistent demand adds a stable foundation to the overall market, especially from countries in Asia and emerging economies.

Expanding Industrial and Technological Applications

Gold's properties, such as high conductivity and corrosion resistance, make it valuable in electronics, aerospace, and medical devices. Although industrial demand represents a smaller share, the trend toward miniaturized electronics and advanced healthcare technologies supports steady growth in this segment.

Mining Output and Recycling Supply Trends

Supply dynamics are influenced by mining output and recycling activities. Key producing countries such as China, Russia, and Australia continue to lead global supply. Recycling also plays an essential role, with higher gold prices prompting households and businesses to recycle jewelry and bullion, balancing overall supply.

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Market Segmentation

The gold market is segmented by application, form, and geography, reflecting its diverse end uses and global presence.

By Application
Jewelry
Investment (bars, coins, ETFs)
Central Bank Reserves
Industrial Uses (electronics, aerospace, medical)

By Form
Bullion
Coins
Jewelry Products
Industrial Gold Items

By Geography:
Asia-Pacific - Dominates consumption, led by India and China.
North America - Strong investment demand, particularly ETFs and bullion.
Europe - Driven by central bank purchases and investor confidence.
Middle East & Africa - Consistent jewelry consumption, especially in Gulf markets.

South America - Brazil and other economies contribute to both demand and supply.

This segmentation highlights the balance between cultural consumption, investment strategies, and industrial applications that sustain the gold market size worldwide.

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Key Players in the Gold Market

The global gold market is highly competitive, with mining corporations and investment institutions at its core. Leading companies focus on expanding output, strengthening reserves, and partnering with financial institutions to deliver gold-backed products.

Top Key Players:

Barrick Gold Corporation
Newmont Corporation
AngloGold Ashanti Limited
Kinross Gold Corporation
Gold Fields Limited
China National Gold Group
Polyus Gold International

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Conclusion

The gold market is projected to expand steadily, reaching USD 2.14 trillion by 2030 at a CAGR of 3.10%. Strong jewelry demand, consistent central bank purchases, and growing interest in gold-backed investments support this positive outlook. Regional markets such as Asia-Pacific remain dominant, while North America and Europe serve as strongholds for financial investment products.

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