Gold, a chemical component with the symbol Au and atomic number 79, is counted amongst the higher-atomic number groups which are found naturally. Gold appears to be a bright, marginally orange-yellow colour and is deep, soft, flexible, and elastic metal in its pure form. It is chemically a changing metal and a group 11 component that is one of the slightly reactive chemical elements and is sold under the standard setting.
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Gold is usually found in its native state, in nuggets or grains, in rocks, veins, and alluvial sediments. It is tolerant to nearly all acids, although it dissolves in a blend of nitric acid and hydrochloric acid. Comparatively, gold is a rare element and is a precious metal that is used for coinage, jewellery, and in other arts.
China, Australia, Russia, and Canada are some of the leading gold producers worldwide.
Key Details About the Gold Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Gold price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The gold price trends, including India Gold price, USA Gold price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Gold Price Trend:
Gold has been used to make ornamental objects and fine jewellery for thousands of years. At present, around 80 percent of the total gold mined is employed in jewellery production. The primary industrial use of gold is in the production of electronic goods. Gold is an extremely competent conductor that can sustain currents in small amounts and endure corrosion. This precious metal is used in connectors, switches, relay contacts, soldering joints, and connecting wires and strips. Furthermore, gold is also predominantly used in dentistry owing to its excellent performance and visual appeal. Besides, today gold is also used in hundreds of ways in aerospace.
Key Players:
- New Gold Inc
- Barrick Gold Corporation
- AngloGold Ashanti Limited
- Harmony Gold Mining Company Limited
- NOVAGOLD Resources Inc
- Gabriel Resources Ltd.
- Golden Star Resources Ltd.
- Freeport-McMoRan Inc. (FCX)
News & Events:
- August 29, 2022 – There was an extensive study conducted by Niti Ayog to find potential gold mines in India and recommended a pan-India discovery program throughout the upcoming ten years. This plan will help discover possible gold-bearing regions that can be developed by 2030.
Read Also: https://www.tbusinessweek.com/gasoline-price-chart/
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Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.
We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.
To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.
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