Precious Metal Derivatives - Ivory Coast

Ivory Coast

The nominal value in the Precious Metal Derivatives market is projected to reach US$4.57bn in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 5.49% resulting in a projected total amount of US$5.97bn by 2029.
The average price per contract in the Precious Metal Derivatives market amounts to US$0.59 in 2024.
From a global comparison perspective it is shown that the highest nominal value is reached in the United States (US$11,920.00bn in 2024).
In the Precious Metal Derivatives market, the number of contracts is expected to amount to 8.63k by 2029.

Market

Region

Region comparison

Currency

Analyst Opinion

The Precious Metal Derivatives market in Ivory Coast has been experiencing a notable shift in recent years, reflecting changing customer preferences and local special circumstances.

Customer preferences: Investors in Ivory Coast have shown an increasing interest in diversifying their portfolios through alternative investment options such as Precious Metal Derivatives. This trend is driven by a growing awareness of the benefits of hedging against market volatility and inflation.

Trends in the market: One prominent trend in the Precious Metal Derivatives market in Ivory Coast is the rising demand for gold and silver derivatives. This can be attributed to the traditional cultural significance of these metals in the region, as well as their perceived stability during economic uncertainties. Additionally, the ease of trading these derivatives electronically has attracted more retail investors to participate in the market.

Local special circumstances: Ivory Coast's position as one of the fastest-growing economies in Africa has contributed to the development of its Precious Metal Derivatives market. The country's stable political environment and increasing disposable income levels have created a conducive atmosphere for investment activities. Moreover, the government's efforts to promote financial literacy and investment education have further fueled interest in derivatives trading.

Underlying macroeconomic factors: The stability of Ivory Coast's economy, driven by robust GDP growth and foreign direct investment inflows, has bolstered investor confidence in the Precious Metal Derivatives market. Additionally, the country's strategic location within the West African region has positioned it as a hub for financial activities, attracting both domestic and international investors looking to capitalize on the growing market opportunities.

Methodology

Data coverage:

Figures are based on commodity derivatives, their notional value, the number of contracts traded, the open interest (outstanding contracts at the end of a year), and the average value of a contract.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use market research & analysis, and data of World Bank, as well as the World Federation of Exchanges. Furthermore, we use relevant key market indicators and data from country-specific associations and national data bureaus such as GDP, wealth per capita, and the online banking penetration rate. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. In this market, we use the HOLT-damped Trend method to forecast future development. The main drivers are GDP per capita an the online banking penetration rate.

Additional Notes:

The market is updated twice per year in case market dynamics change.