Precious Metal Derivatives - Uzbekistan

Uzbekistan

The nominal value in the Precious Metal Derivatives market is projected to reach US$293.50m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 4.99% resulting in a projected total amount of US$374.40m by 2029.
The average price per contract in the Precious Metal Derivatives market amounts to US$0.02 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 15.13k by 2029.

Market

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Analyst Opinion

The Precious Metal Derivatives market in Uzbekistan is experiencing a notable shift in recent years, reflecting changing customer preferences and local special circumstances.

Customer preferences: Investors in Uzbekistan are increasingly turning to Precious Metal Derivatives as a way to diversify their investment portfolios and hedge against market volatility. The allure of potentially high returns and the ability to trade without needing to physically own the underlying assets are driving this trend.

Trends in the market: One significant trend in the Uzbekistan Precious Metal Derivatives market is the growing interest in gold derivatives. Gold has always held a special place in Uzbek culture and history, making it a popular choice for investors looking for stability and long-term growth potential. As a result, the demand for gold derivatives is on the rise, with more market participants engaging in trading activities related to this precious metal.

Local special circumstances: Uzbekistan's historical connection to gold, as well as its strategic location along the ancient Silk Road, has contributed to the country's deep-rooted interest in precious metals. The government's initiatives to promote the development of the financial markets and attract foreign investment have also played a role in shaping the Precious Metal Derivatives market in Uzbekistan.

Underlying macroeconomic factors: The macroeconomic environment in Uzbekistan, including factors such as inflation rates, interest rates, and overall economic stability, influences the Precious Metal Derivatives market. As the country continues its economic reforms and opens up to international markets, the demand for derivatives as a financial instrument for trading precious metals is expected to grow further. Additionally, global economic trends and geopolitical developments can also impact the market dynamics in Uzbekistan.

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.