Gold Holding Steady as Global Gold Mining Market Is Projected To Rise At A Considerable Rate Through 2027

PALM BEACH, Fla., Oct. 7, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary  - Gold mining is the resource extraction of gold by mining. Increase in demand for gold and increase in the use of gold in various industries drive the growth of the gold mining market. Development of better mining equipment is expected to provide lucrative growth opportunity for the market. The market was affected by COVID-19 as were most all markets worldwide. COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. A report from Market Growth Reports discussing the global gold mining industry said that: "Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis."   The report continued: "The Global Gold Mining market is anticipated to rise at a considerable rate during the forecast period, between 2021 and 2027. In 2020, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon… Increase in demand for gold and increase in the use of gold in various industries drive the growth of the gold mining market. However, the cost of mining is extremely high, which hinders the growth of the market. Development of better mining equipment is expected to provide lucrative growth opportunity for the market." Active stocks in the mining markets this week include Calibre Mining Corp. (OTCQX: CXBMF) (TSX: CXB), Golden Star Resources Ltd. (NYSE: GSS) (TSX: GSC), Gold Fields Limited (NYSE: GFI), Equinox Gold Corp. (NYSE: EQX) (TSX: EQX), IAMGOLD Corporation (NYSE: IAG) (TSX: IMG).

Market Growth Reports added: "The global Gold Mining market is valued at USD million in 2019. The market size will reach USD million by the end of 2026, growing at a magnificent CAGR during 2021-2026."  A report from Research And Markets projected: "The global gold mining market should grow from $214.1 billion in 2021 to $249.6 billion by 2026, at a compound annual growth rate (CAGR) of 3.1% for the period of 2021-2026… Central bank as an end-use of gold mining market should grow from $22.7 billion in 2021 to $26.9 billion by 2026, at a CAGR of 3.5% for the period of 2021-2026."