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Gold Industry Trends - Dissertation Example

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As revealed from the report published by World Gold Council (2011), the international market for gold is quite strong with rapidly growing prices for gold products although customer demand in this market context can be witnessed to be highly fluctuating…
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Download file to see previous pages For instance, in the second quarter of 2011, the international demand for gold was almost 919.8 tonnes, 17% less compared to previous year. The value of gold has increased by 5% ‘year-on-year’ and the total demand of gold with respect to value is 44.5 billion USD (World Gold Council, 2011).
Furthermore, in the second quarter of 2011, the demand of gold attained a record increase by concentrating on the emerging markets of India and China. These two nations occupy almost 52% of gold piece and currency investment as well as 55% of aggregated international jewels’ demand. It is worth mentioning that demand for gold in India is accounted as 38% and China is 25% with respect to worldwide gold growth rate i.e. 7% in 2011 (World Gold Council, 2011).
Gold Industry Investment
The financial market of gold permits market contestants to use gold as a medium of capital, investment and a basis of security. Gold is practically imperishable and can exist in several forms. Thus, gold can be used for jewelry, investment, official assets, security etc. The investment in gold currently accounts as the second largest usage of the material. According to the report of World Gold Council (2011), in the year 2010, the total amount of gold investment was almost 31,400 tonnes i.e. 18.7% of total gold usage in the world. In the year 2010, several assessments proposed that around 168,300 tonnes of gold have been extracted worldwide which can have an impact on the demand of gold (World Gold Council, 2010). ...
In the year 2010, several assessments proposed that around 168,300 tonnes of gold have been extracted worldwide which can have an impact on the demand of gold (World Gold Council, 2010). Gold as Financial Product and Instrument For various investors, gold has emerged to be a financial instrument and an ideal investment choice which is fundamentally associated with lesser risks compared to other financial investment instruments. Investment in gold is beneficial when the financial market condition is unstable. In present day context, there are several products which originate their worth from the price of gold and those products are used as investment instruments such as ‘gold futures’, ‘gold exchange traded funds’ and ‘licensed gold coins’ among others. In this irregular value of currencies, driven by economic condition and massive uncertainties regarding accurate price of other financial instruments, gold can be a smart option to invest (The Hong Kong and Shanghai Banking Corporation Limited, 2011). New Product Development in Financial Services Industry Financial organizations need to carry out new product development strategies on a regular basis to stay competitive in the market. Discovering the potentials of developing new financial products to influence the current customer demand in the market is an exceptionally stimulating procedure followed by financial institutions (Strategy Corporate Finance, 2010). In the financial industry, new product developments are often witnessed to fail because of quick market variations along with the challenges of altering internal structures to preserve new offerings. The challenges of new product development for financial products can be approached from three perspectives which are: Introducing a single financial ...Download file to see next pagesRead More
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