The gold and precious metals industry is getting to grips with significant technological and demographic change as new consumer trends and increasing digitalisation present both opportunities and challenges across the supply chain.

This report reviews the industry’s performance in 2017 and looks ahead to what’s in store for 2018 and beyond. It also highlights the unique role being played by Dubai as a global trading hub and in particular, the contribution of DMCC (Dubai Multi Commodities Centre).

Since the dawn of time, precious metals such as gold and silver have been recognized as a store of wealth. Diamonds and other gems are viewed as an integral part of the culture of many countries and denote social standing and wealth. And, of course, polished stones and precious metals have been sought far and wide for their inherent beauty and popularity down the ages.

It was a return to growth for many miners of precious metals last year. Companies benefitted from rising share prices as commodities across the board found themselves back in fashion after the downturn which followed the China-led boom up until 2011. Physical demand remained subdued, however, even as economic growth recovered in the euro zone and the US while Chinese GDP surprised on the upside. Looking further out, the market and consumer demand picture appears encouraging. Growth for precious metals is expected to be driven by a burgeoning demand from an expanding middle class in China, India and Africa. However, geopolitical risk remains on the downside.

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