Published on 19 Jun 2024 on Insider Monkey · via Yahoo Finance
Did DRDGOLD Limited (DRD) Beat Expectations in Recent Quarters?
We recently compiled a list of the 14 Most Promising Gold Stocks Now. In this article, we are going to take a look at where DRDGOLD Limited (NYSE:DRD) stands against the other promising gold stocks.
Global Gold Market Dynamics and Investment Trends in 2023
The global gold market is a vast and multifaceted industry, with a diverse range of participants and investment opportunities. The total above-ground stock of gold is estimated to be around 209,000 tons, worth approximately $12 trillion. Central banks hold around 35,715 tonnes of gold, accounting for 16% of total global allocated reserves, second only to the US dollar and the euro. Investors view gold as a safe-haven asset and a hedge against economic uncertainties. In 2023, global investment demand for gold (bars, coins, and ETFs) was the lowest since 2014, primarily due to outflows from gold ETFs.