High-Purity Gold Market by Capacity, Production Status and Revenue Analysis to 2022

The global high-purity gold market is expected to witness significant growth over the forecast period. This growth can be attributed to the fact that gold is increasingly being seen as the safest investment in troubled economic times such as currency fluctuations and high inflation. Gold is considered as one of the most precious metals and due to its many favorable characteristics such as high ductility and malleability, the demand for gold is increasing at a rapid pace. It is also considered as a smart and safe investment particularly in troubled economic times as well as times of war and rebellions. With the growing civil unrest in numerous countries around the world and the increased frequency of wars among nations especially in the Middle East in countries such as Libya, Syria and Egypt among others, the gold industry is expected to receive a significant boost in the next few years.

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The term used as the measure of purity or gold content is known as karat. 24 karat and 23 karat gold is classified as high purity gold. 24k gold has the highest purity which means that all 24 parts are made of pure gold without the mixture of any other metals or alloys and is therefore 99.9% pure. It has a distinct bright yellow color and there is no higher purity than 24k. The demand for 24k high purity gold has been very high in the past few years and this trend is expected to continue in the future as well on account of the growing popularity of owning 24k gold bars and coins for investment purposes. The high purity gold market is anticipated to see positive growth also due to its increased application in the electronics sector. Gold is being used as a highly efficient conductor that aids in carrying tiny currents with the added advantage of being corrosion resistant. The demand for such products is expected to increase over the forecast period due to their high practical reliability.

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